The project, located in Kozani, Western Macedonia, Greece, will have a total nominal capacity of 83 MWp. The financing includes contributions from Greece’s Recovery and Resilience Facility (RRF), funded by the EU – NextGenerationEU, under Greece’s national plan ‘Greece 2.0’, as well as from Piraeus Bank and Optima bank.

Additionally, Luxcara has secured a long-term pay-as-produced power purchase agreement (PPA) with Amazon. It marks Luxcara’s second renewable energy agreement with Amazon, following the large scale PPA from the 750 MW+ Önusberget wind farm in Sweden.

Lorenz Hahn, Investment Manager at Luxcara, commented: “Reaching financial close for our first investment in the attractive Greek market underlines Luxcara’s commitment to expanding our European footprint. We are delighted about the renewed collaboration and trust from Amazon as a strong offtaker. This transaction is a great example of how Europe’s growing electricity needs can be met with renewable energy, supporting European energy independence and future-proofing industries.”

Having acquired a majority stake in the project in 2024, Luxcara awarded the EPC contract to Ameresco Sunel Energy SA, a joint venture between Ameresco, Inc., a leading clean technology integrator specialising in energy efficiency and renewable energy, and Sunel Group, a leading international solar photovoltaics (PV) EPC contractor. They will install about 130 000 PV modules on a one-axis tracker system to optimise energy yield. By tracking the position of the sun and thereby optimising the alignment of the modules, tracker-mounted PV modules can capture more irradiation than fixed-mounted modules.

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Read the article online at: https://www.energyglobal.com/solar/15042026/luxcara-invests-in-its-first-greek-solar-pv-project-and-achieves-financial-close/