Ashtrom Renewable Energy, a subsidiary of Ashtrom Group, is entering operations in Greece with plans to develop a new solar project pipeline.
Under the agreement, a local development partner will deliver five projects under initial development and at a cumulative scope of around 476 megawatts. The cost of establishing the said projects is estimated at €335 million to €380 million ($325 million to $369 million).
In addition, Ashtrom Renewable Energy was granted a future right to take over several additional projects owned by the Greek corporation at advanced stages of development, which are expected to obtain the substantial permits required for construction within the upcoming year.
Greece’s renewable-energy market is expected to continue growing in the near future in light of various developments in the European energy market. The total installed capacity in Greece in 2022 is estimated at around 21 gigawatts, with an estimated solar capacity of some 4 gig
