Mytilineos agrees 210-MW solar off-take deal in Greece

Greece-based Mytilineos SA (FRA:MYH) has signed a deal with to procure electricity from 210 MW of solar park projects in its home country, the industrial group said in a regulatory filing on Tuesday.

The long-term power purchase agreement (PPA) was struck with Greek netting materials maker and renewables investor Karatzis Group and is tied to a 262 MW of assets. Mytilineos’ procurement will cover 80% of the portfolio's overall capacity.

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The contracted bundle includes 35 photovoltaic (PV) projects located in Larissa prefecture, in the northern region of Thessaly. The schemes were developed by Karatzis and the capacity will be installed by Mytilineos’ renewable energy division. All plants are due to kick off commercial operations in the third quarter

The volume contracted by Mytilineos is around 380 GWh annually, or enough to cover the consumption of about 97,000 homes. The company noted the procurement is aligned with its strategy to lower its own energy costs and those of its business partners. A year ago, it signed a PPA with EDP Renewables to get electricity from 78 MW of wind projects in Greece.