In a major boost to Greece’s renewable energy sector, Lightsource bp’s subsidiary, Enipeas Single-Member S.A., has secured a landmark financing deal for its 560MWp solar project. Backed by a partnership with Eurobank A.E. and the Greek government’s National Recovery and Resilience Plan, known as “Greece 2.0,” the total project investment is valued at €395.15 million, as Lightsource bp confirmed.
Lightsource Builds 560MWp Solar Project in Greece: A New Chapter
Slated for completion and grid connection by 2026, the Enipeas project is set to become a cornerstone of the nation’s energy transition. In its first year of operation, the facility is projected to generate 0.90 TWh of clean electricity, sufficient to power 225,000 households and displace an estimated 379,000 tonnes of carbon dioxide emissions annually. This output will account for nearly 2% of Greece’s domestic electricity production.
The vast project will be developed across the regional units of Larissa and Fthiotida in central Greece, covering approximately 6,926 acres. It is structured into two main clusters: a 400 MWp southern cluster and a 160 MWp northern cluster, which together will utilize an impressive 968,630 PV modules.
Financing the Green Transition
The project’s financial structure highlights a strong public-private collaboration. The total capital of €395.15 million is supported by a long-term loan of €315.34 million. This loan package is comprised of €170 million from the Recovery and Resilience Facility (RRF) and €145.34 million provided by Eurobank. Lightsource bp is contributing the remaining 20%, amounting to €79.82 million in equity.
Konstantinos Vassiliou, Deputy CEO of Eurobank, described the project as “another strategic investment that will be added to the portfolio of Lightsource bp, a global leader in solar development, management, and operations.” He emphasized the bank’s commitment to sustainability initiatives that leverage the “significant influence” of the “Greece 2.0” plan.
A Shared Vision for Energy Independence
Government and company leaders have hailed the project as a critical step toward achieving Greece’s decarbonization goals. Orestis Kavalakis, Governor of the Recovery and Resilience Facility Agency, noted the investment’s importance for attracting foreign capital and enhancing national energy self-sufficiency. “The Recovery Fund’s loan program, Greece 2.0, backs investments in clean energy and green transition, crucial for enhancing the country’s energy self-sufficiency, sustainability, and environmental preservation,” he said.
This sentiment was echoed by Natalia Paraskevopoulou, Lightsource bp’s Head of Country for Greece. “Amidst the backdrop of persistent climate change, our project significantly contributes to a sustainable future, facilitating the availability of more affordable, cleaner energy nationwide,” she stated.
Since entering the Greek market in 2020, Lightsource bp, a global leader in solar energy development, has built a portfolio exceeding 1 GW of solar and storage projects. Nick Boyle, Group Co-CEO of Lightsource BP, expressed gratitude for the support from the Greek government and Eurobank, adding, “This agreement paves the way for the 560MWp Enipeas project to contribute to Greece’s economic growth while providing access to more affordable, sustainable, and reliable energy.”
Sources
- Financing of €315.34 million for Lightsource bp 560MWp solar project in Greece
- Ameresco Sunel Energy to build 560 MWp solar project in Greece
- Ameresco Sunel Energy SA Begins Construction on Lightsource bp’s 560 MWp Enipeas Solar Project in Greece
- Lightsource bp secures financing for a 560 MW solar project in Greece
- Ameresco Sunel Energy SA Begins Construction on Lightsource bp’s 560 MWp Enipeas Solar Project in Greece
- Ameresco Sunel Energy begins 560MWp Greek solar project
- Work underway on Lightsource bp’s 560 MW solar project in Greece
- Lightsource bp secures funding to build 560MWp project in Greece
