Green energy pact between Mytilineos and Karatzis

Mytilineos Energy & Metals said on Tuesday that it has signed a 210-megawatt long-term power purchase agreement (PPA) with Karatzis SA for the green energy produced by a 262 MW solar portfolio.

According to the announcement, Mytilineos will be able to offtake 80% of the energy produced, further enhancing its green supply basket.

This portfolio consists of 35 solar projects, all located in the regional unit of Larissa.

The projects, with a total budget of 180 million euros, have been fully developed by Karatzis as a strategic investment plant and the construction has been awarded to Mytilineos’ M Renewables sub-segment, which is internationally acknowledged as a top integrated developer and contractor, with a focus on sustainable development, protection of the environment, while investing in local communities where it operates.

All solar farms are expected to enter operation within the third quarter of 2024 and under this PPA they are expected to produce 380 gigawatt-hours annually, the equivalent of the consumption of 97,000 households in Greece, and displace around 162,000 tons of CO2 emissions annually.

Mytilineos is strategically seeking opportunities to secure green PPAs, aiming to reduce energy costs both for its own assets and those of its business partners.