Cero, Wattcrop to develop 750 MW of solar in Greece

European solar energy company Cero Generation and Greek renewables developer Wattcrop are forming a joint venture (JV) with a goal to develop 750 MW of solar projects in Greece over the next four years.

Initially, the partners plan to co-develop Wattcrop’s current portfolio, in which there are more than 480 MW of projects in the early stages of development.

Cero and Wattcrop said their larger goal will be supported by the emerging power purchase agreement (PPA) market in the country.

Greece aims to reach a 61% renewables share in the power consumed locally by 2030. A significant portion is expected to come from solar photovoltaic (PV) parks.

“Our Partnership with Cero Generation, a GIG portfolio company, will enable us to develop, build and operate quality renewable energy assets and accelerate the transformation and decarbonisation of electricity generation in Greece. We aim to work closely with local communities and the Greek Authorities to develop sustainable green projects in harmony with communities and the environment,” said Ypatios Moysiadis, Wattcrop Managing Partner.

The JV marks Cero’s entry into Greece. The solar-focused portfolio company of Green Investment Group (GIG), which in turn is part of Macquarie Group Ltd (ASX:MQG), says it has 8 GW of solar projects under development in Europe.

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