Greece's Faria adds 35-MW solar project to domestic portfolio

Greek renewable energy company Faria Renewables SA has expanded its domestic portfolio with a 35-MW solar project bought from privately-owned corporation Vasileiadis Group of Companies.

The construction of the photovoltaic (PV) park is due to start immediately, Faria said in a LinkedIn post on Thursday, adding that the acquisition is aligned with its strategy to include additional ready-to-build projects in its portfolio. The scheme will join the company’s portfolio of mature projects totalling 126 MW.

The Mykonos plant will be installed on privately-owned land at an investment estimated at some EUR 27 million (USD 29.3m). Once online, it is expected to generate about 52.5 GWh of electricity annually, or enough to meet the demand of roughly 13,125 households in the Domokos and Farsala areas. The commissioning is due to take place by the fourth quarter of 2025.

At present, Thessaloniki-based Faria has roughly 3.5 GW of projects in its development portfolio across its home country. In early 2024, the company acquired two ready-to-build solar farms at home totalling 19.8 MW, planning to commission both of them this year.

(EUR 1.0 = USD 1.085)

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