Lightsource bp is expanding its entry into the Greek market through the acquisition of 640 MW of projectsfrom Kiefer TEK.

According to the relevant announcement, the company secured 140MW in the recent Joint Competition Process, ie 40% of the total auctioned power, “locking” in an average price of € 38.5 per MW. These projects are part of the 640MW of projects that Lightsource bp will acquire from Kiefer TEK, which makes it one of the largest managers and investors in solar energy in the country.

The Greek solar energy market through the auction process, ensures healthy competition as well as better prices for the final beneficiaries.

The results of the recent tender of the Hellenic Energy Regulatory Authority show that solar energy is now becoming more competitive for the benefit of the Greek electricity system as a whole.

In the last tender, bids were submitted for more than 1 GW of RES projects and contracts of up to 350MW were awarded with record low prices, which makes solar energy competitive against all traditional forms of energy production.

Greece is now becoming a strategic market for Lightsource bp, with a presence in 3 continents and 14 countries with a portfolio of completed projects with a total capacity of 3.5GW and ongoing international projects with a capacity of 20GW.

Together with the 140MW that were secured in the recent auction, Lightsource bp plans to run projects of more than 200MWp, in the next 24 months. This is an investment of about 160 million euros which will create more than 300 jobs. The specific investment plan will be carried out in cooperation with Kiefer TEK in the fields of licensing and construction. The produced energy will be sold either through the Operating Aid Contracts with Renewable Energy Sources Operator & Guarantees of Origin (DAPEEP SA) at the agreed price but also directly to large companies, energy suppliers and / or the energy exchange.

Statements

Lightsource bp head of global development, Mr. Vlasios Souflis, said: “This is a milestone for the Lightsource bp Greek project development team which worked hard and achieved its goal in a short time. The tender process allows the country to accelerate its independence from coal and at the same time creates the conditions for the entry of the largest global players in the Greek market. Our cooperation with Kiefer TEK was crucial for our consolidation in the Greek market. “Agreements like this one contribute to the country’s economic development and accelerate the energy transition through investment, job creation, and the supply of clean energy.”

Thanasis Rigas, Managing Director of Lightsource bp for Greece, said: “I am proud of the entry of Lightsource bp in the Greek renewable energy sources market. This input is crucial for the development of clean and affordable solar energy and the achievement of the goal of the “National Energy and Climate Plan (NECP)” in increasing the share of renewable energy sources by 30% by 2030. Lightsource bp has been investing in Greece for over 90 years and with Lightsource bp continues its investments aiming at a future with lower carbon emissions.”

On behalf of Kiefer TEK, the CEO Christos Petrochilos stated: “This agreement proves the high potential of the areas in which we operate and the value we can offer in cooperation with a global player such as Lightsource bp. We are very pleased to see our joint projects win and we will feel even greater satisfaction when our projects are completed, delivering cheap and clean energy throughout Greece. I am sure that our cooperation with one of the largest energy groups in the world will create very interesting projects.”

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