Newsletter View

Newsletter October 2012


SPI Solar Completes Two Major Projects in Greece

SPI Solar, a U.S. based photovoltaic developer, has completed construction of and successfully interconnected two large-scale solar energy facility (“SEF”) projects in Greece.

A 2-megawatt development in Evros and a 4.4-megawatt SEF in Orestiada were completed and interconnected by July 26. Both systems are providing power to the Greek Public Power Corporation through 20-year Power Purchase Agreements. A one-megawatt SEF remains under construction in Rhodopi and is scheduled for completion by mid-September.

“These are the first two large-scale SEFs we have completed in Greece, and they mark significant milestones for SPI,” said Stephen Kircher, CEO of SPI. “As Greece continues to diversify its energy sources, we will continue to pursue additional projects across the country,” Mr. Kircher concluded. SPI has entered into a Memorandum of Understanding (MOU) with Greece’s TANEO Fund to develop 23 megawatts of utility-scale SEFs across Greece, all of which are fully permitted and ready for construction. The MOU sets a goal for TANEO and SPI to potentially develop a total of 100 megawatts across Greece.

Waste Management Project Approved
On August 9, Development Minister Kostis Hatzidakis announced the approval of a 60-million Euro integrated solid waste management project in the prefecture of Achaia, southern Greece, with a capacity of roughly 150,000 tons.

The contractor will be selected through international tender and will undertake the study, financing, construction, maintenance and operation of the facility.

The announcement was made after the meeting of a ministerial committee comprising Finance Minister Yiannis Stournaras, Interior Minister Evripidis Stylianidis, Environment Minister Evangelos Livieratos, Alternate Environment Minister Stavros Kalafatis and Deputy Development Minister Notis Mitarachi.

The committee convened to discuss the construction of five solid waste management units in the Region of Western Macedonia in the northwest, as well as in the Peloponnese, Ilia, Serres, and Aetoloakarnania.