Athens, Greece – 14 February 2023 - MYTILINEOS – Energy & Metals (RIC: MYTr.AT, Bloomberg: MYTIL.GA, ADR: MYTHY US) and EDP Renewables (“EDPR”) signed a long-term Power Purchase Agreement (PPA) for the green energy produced from a 78 MW wind portfolio.
This is EDPR’s first PPA in Greece and a first for MYTILINEOS, concerning energy generated from a wind portfolio. The deal allows EDP Renewables to fasten the development of this 78 MW portfolio which consists of 3 wind projects developed by EDPR:
All wind farms are expected to enter operation between the end of 2024 and 2025 and under this PPA they are expected to produce annually more than 232 GWh, the equivalent of the consumption of 60 thousand households in Greece by displacing around 100 thousand tonnes of CO2 emissions annually.
MYTILINEOS fully supports Greece’s strategic plan for decarbonization and seeks opportunities to secure green PPAs, for its own portfolio aiming to reduce energy costs both for its own assets and those of its business partners.
Yiannis Kalafatas, Chief Executive Director of MYTILINEOS’ Energy Sector stated: “We are excited about this new transaction with EDPR that marks its first PPA and one of the first wind PPAs in Greece. MYTILINEOS is committed to enrich its portfolio with renewable energy in competitive prices, as it evolves into an international integrated energy utility.”
With this new portfolio, EDPR has now 11.2 GW out of the 20 GW target additions worldwide established in 2021-25 Business Plan. This transaction enables EDPR to achieve more than 3.6 GW of the 6.7 GW target for renewable capacity additions in Europe during 2021-25.
In the words of Dionysios Andronas, General Director of EDPR Greece: “This PPA is a milestone for our business activity and demonstrates our commitment to renewable energy and the Greek market. We are pleased to collaborate with a relevant partner as MYTILINEOS and we will continue to seek new opportunities to foster the adoption of renewables in Greece and provide solutions for the energy transition”.
EDPR entered Greece in 2018 through the acquisition of the Livadi Wind Farm project, a ready-to-build wind farm of 45 MW, located near the town of Malesina, in Central Greece. The Livadi wind farm started its operation in 2021 and since then the renewable energy generated is enough to power more than 23.500 households while avoiding the emission of approximately 56 thousand tons of CO2 per year.
MYTILINEOS with this transaction makes its first step towards the development of its green supply basket, aiming to unfold a wider strategy targeting more than 2GW, coming from 3rd party PPAs and own assets across the region.