An agreement of a €1 billion investment in photovoltaics was approved unanimously by DEI Board of Directors – 2 GW photovoltaic projects will be implemented – Greece is a strategic investment target, said RWE Representative in Greece, George Paterakis.

Τhis is a significant deal in energy field as the cooperation of DEI with the German company RWE is finalized in order to implement joint investments of over 1 billion euros in RES projects in our country.

DEI Board of Directors unanimously approved the cooperation between the subsidiary of DEI Renewables and the subsidiary of the German company RWE Renewables.

The two companies will establish a joint investment scheme in order to implement photovoltaic stations with a total installed capacity of up to 2 GW, mainly in the areas of Western Macedonia (Ptolemaida – Kozani – Florina) and Megalopolis.

This is the largest project to date of the after lignite era, which will run from September and will be implemented in four years. The German company is confident that there will be more locations in other parts of the country.

The participation in the joint venture will be 51% for RWE Renewables and 49% for DEI Renewables. The project will be primarily managed by the German company.

The consultations were conducted on behalf of DEI by the Group’s President and CEO, Georgios Stassis, and on behalf of RWE by the CEO R. M. Schmitz and RWE Representative in Greece, Georgios Paterakis.

At a recent event of the Hellenic-German Chamber, Mr. Paterakis spoke of a “promising cooperation”.
According to Mr. Paterakis, for RWE, one of the largest companies in the international sector in the field of RES, Greece is a strategic investment target, as it needs high value investments, while the strategy of de-lignification is the main pillar for the energy transition.