ATHENS, Greece, July 30, 2021 /PRNewswire/ -- National Energy
(NE) is pleased to announce the successful completion and full
energization of its first greenfield construction solar energy
installation in Greece. The
24.08MWp ground-mounted solar energy installation is comprised of
five (5) PV projects in Central
Greece in the regions of Viotia and Fthiotida. The solar
energy installation will generate ca. 47.7Gigawatt hours (GWh) year
which could power ca. 10,000 homes and reduce ca. 23,000 tons of
CO2 emissions per annum. All projects have secured a 20-year fixed
tariff, awarded via the auction conducted by the Greek Regulatory
Authority of Energy (RAE) in July
2019. NE's position in the Greek market is now consolidated
with an operational portfolio of 91MW consisting of both wind and
solar assets.
The 24.08MWp portfolio is wholly owned and operated by National
Energy's Greek subsidiary, New NE Solar Developments One 1 Single
Member SA (NNESD1). Mytilineos RSD Business Unit delivered the
full scope of engineering, procurement and construction (EPC)
services for all projects.
The projects are comprised of a combined:
- ca. 51,000 Suntech and Trina bifacial solar panels
- 128 Huawei solar string inverters
- Mevaco fixed structure and Soltech one axis trackers
Construction commenced in the autumn of 2020 and was completed
in the spring of 2021. Two projects were fully energized in
February 2021 followed by the
remaining three projects fully energized in June 2021. Performance across the five solar
projects has been positive and, on average, all sites have been
producing above initial forecasted expectations. Non-recourse
project finance was provided by Piraeus Bank Financing via a Bond
Loan Facility in November 2020.
George Lagios, Greek Country
Manager for National Energy, expressed, "We are very committed
to our long-term holdings in Greece. This was the first batch
of our solar projects to be constructed. We realized the project
with EPC contractor Mytilineos RSD who demonstrated professionalism
and commitment to delivering the project on time and selected
Huawei inverters as they meet all aspects of our quality and
performance standards, while they are backed by after sales support
offering long-term security for our projects. We are proud to
be involved in the Greek energy transition to a low carbon future
and ensuring we leave the environment in a better shape than we
found it."
About National Energy www.national.energy
Headquartered in London and
founded in late 2018, National Energy is an agile and
entrepreneurial renewable energy investment platform with a focus
on solar PV and wind projects from greenfield development to
long-term asset ownership. The company is financed by US investors
and is uniquely positioned to make large-scale investments and
strategic acquisitions. National Energy's mission is to develop,
finance and operate a minimum of 2GWp of renewable assets in the
next 5 years with a focus on accelerating the transition to clean
and affordable power generation in key European markets.
The company currently holds a significant footprint in
Greece since entering the market
as a newcomer in late 2018 with an operational portfolio of 91MW of
solar and onshore wind as well as an additional 245MW of solar
assets that have successfully been awarded a tariff in the Greek
auction system. National Energy is led by an international team
with deep industry experience and hires operational expertise
directly from the Greek economy providing local market
know-how to operate with agility in a domestic market as an
overseas investor. The company fully adheres to ESG principles and
invests ethically and responsibly in the transition to a low carbon
future, holding above all else, ultimate respect for the
environment.
For more details, please contact:
Christine Caralis
Wallier, NATIONAL ENERGY
Press Office E-mail cwallier@national.energy
+44 203 859 5045
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