Macquarie’s subsidiary Cero Development Hellas received a green light for adding batteries with an overall capacity of 749 MWh to its project for a 370 MW photovoltaic plant in Central Greece.
Renewable energy investors are increasingly turning to batteries to keep their solar power projects on track. As electricity consumption in Greece is stagnating and the grid is struggling to add capacity, curtailments may affect 70% of potential photovoltaic output. In addition, energy storage is set to become a requirement for the participation in renewable energy auctions.
Cero Development Hellas got the approval from the Regulatory Authority for Energy, Waste and Water (RAEWW) to change its producer certificate for a 370 MW photovoltaic project by adding battery energy storage, Newmoney reported. The location of the future Dristello solar power plant is in the municipalities of Domokos and Stylida in the regional unit of Fthiotida in Central Greece.
The battery energy storage system within the Dristello solar farm will deliver electricity to the grid, but won’t be able to receive it
The energy storage system wouldn’t be able to receive power from the grid. The envisaged nameplate capacity is 749 MWh and the depth of discharge would be 711 MWh, translating to a nominal battery availability of 95%.
Cero Development Hellas is part of Cero Generation, which operates in eight European countries. It was founded by Macquarie Asset Management’s private equity fund Green Investment Group (GIG). Macquarie Asset Management is the investment management division of Australia-based Macquarie Group.
PPAs cleared way for installation of hundreds of photovoltaic megawatts
Cero Development is building a 100 MW photovoltaic park in Prosotsani in Drama in northeastern Greece. The Delphini project, valued at EUR 60 million, is covered by the country’s first long-term bilateral power purchase agreement (PPA) for solar power.
Annual output is estimated at 142 GWh. The company said it was also the first renewables project to get funding from the European Union’s Recovery and Resilience Facility.
Cero Development has a 269 MW photovoltaic investment with storage underway in Phocis
Cero has obtained licenses for a range of other investments in Greece. It is planning a 269 MW solar power plant with batteries in Malandrino in the municipality of Dorida in Phocis. The energy storage unit is envisaged with a capacity of 406 MWh (400 MWh in depth of discharge terms).
Another PV project in the Phocis regional unit is for 280 MW. Cero is preparing to install solar power systems of 110 MW and 250 MW in Thessaly, 269 MW and 154 MW in Drama and a 269 MW solar park in Litochoro in Pieria. Domestic news outlets learned that several PPAs have been signed and that the facilities should come online by 2026.
Two partnerships launched in Greece
Last year Macquarie Asset Management agreed to buy 50% of Enel Green Power Hellas. The now joint venture is set to present its new name this week and establish a virtual power plant. It operates a portfolio of wind, solar and hydropower of 482 MW while building six PV parks of 84 MW in total.
GIG’s Corio Generation signed a partnership deal with Greece-based Globalsat Group explore opportunities for offshore wind development in the country.
