Akuo launches its ramp-up to echo and support Greece’s acceleration in renewable energy production
Larissa, Thessaly, Greece, February 17th, 2023 - Akuo, a global renewable energy power producer and developer, has inaugurated its first solar plant in Thessaly Region, Greece, in the presence of the Secretary General Natural Environment and Waters, Mr. Petros Varelidis, the Regional Governor, Mr. Kostas Agorastos, the Akuo Greece CEO, Kostas Andriosopoulos, and the Akuo Group’s Co-founder and Chairman of Akuo Group, Mr Eric Scotto.
Just five years after opening its Greek office, Akuo is inaugurating its second project, following Chalki back in October 2021. The Thessaly solar plant is based near the city of Larissa and comprises 4 photovoltaic stations of 1 MWp each. It supplies around 350 households and offsets the equivalent of more than 700 tons of CO2 emissions during each year of operation. With this project, and its global portfolio in Greece, Akuo is taking its full share of responsibility to support the Greek strategic plan for climate and energy (NECP) set by the Government that foresees a penetration of renewable energies up to 80% by 2030.
Thessaly solar plant sells electricity directly to the energy market
Thessaly solar farm benefits from the expertise of GEARS, Akuo’s aggregator operating in Greece, which sells electricity directly to the energy market through a direct participation in the Hellenic Energy Exchange. This is an illustration of the growing maturity of the PV sector in Greece.
Accelerating the energy transition in the Thessaly Region and in Greece
Above all, Thessaly solar power plant is the cornerstone of a wider cluster of projects that Akuo is developing in collaboration with the Region, as, in the coming months, the permitting "maturation" of a portfolio of plants with a total capacity of 500 MWp will be completed, in order to start their construction once their financing is finalized.
The Company’s local presence will soon be strengthened and will contribute significantly to the Thessaly Region’s energy transformation. This inauguration was marked by the signing of a Memorandum of Understanding (MoU) with the Region and representatives of agricultural organizations (General Organization of Thessalia for Terrestrial Improvements and Pineios Organization for Terrestrial Improvements). The parties have agreed to develop not only floating PV, but also PV on irrigation canals which enables water evaporation to be reduced. Through agrivoltaics, Akuo will encourage the integration of renewable energy sources within the region's sizeable agricultural activity. Additionally, the company will also install floating PV assets that enable the use of water surfaces for energy production while reducing evaporation. Finally, storage solutions will complement these solar production facilities, enabling green energy integration in the grid and a more efficient and green energy mix for Thessaly Region.
Eric Scotto, Co-founder and Chairman of Akuo said: “At the end of last year, the Greek Government announced it was setting a target of 80% of Renewable energy in the national energy mix by 2030: that will make Greece a pioneer within the EU! This commitment is the signal the Renewable industry was waiting for to really accelerate and Akuo undoubtely intends to play a major role in this transition. With this decision in mind, Akuo has decided to accompany this effort with a secured portfolio of 1,4 GW in the country that we will develop over the coming years. We are proud to be able to contribute to helping Greece achieve its climate and energy objectives.”
Kostas Andriosopoulos, CEO of Akuo Greece add: “Strengthening high-RES rates, together with the integration of new market models, energy storage and innovative technologies is now a priority for the Greek government. Towards this direction, Akuo is committed to producing green, sustainable energy while contributing to the local and national economy at the cutting edge of innovation. Αkuo’s projects in Thessaly will further reinforce the region’s agrivoltaics activity, support the agricultural organizations and the local community and contribute to the energy transformation of the wider Region.”