MVV subsidiary Juwi sells 267 MW PV portfolio to Foresight and Mirova, signs EPC and O&M contracts in Greece

- Juwi GmbH, a wholly-owned subsidiary of MVV Energie AG, has signed an agreement with Foresight and Mirova for the sale of a 267 MW PV portfolio in Greece
– Following the M&A completion, Juwi was appointed as the EPC and O&M contractor
– Construction is scheduled to start in August 2024

© JuwiWörrstadt (renewablepress) - In November 2023, Juwi Hellas had acquired a PV portfolio with a capacity of 267 megawatts (MW), consisting of three clusters (160 MW, 40 MW and 67 MW), from Hive Energy Ltd. The projects that have now been sold to Foresight and Mirova are located in the regional units of Fthiotida and Larissa, Central Greece, around 300 kilometers north of Athens. Juwi will implement the project portfolio as an EPC service provider and is therefore responsible for the technical design (engineering), component purchasing (procurement) and construction. Construction is scheduled to start in August 2024, and commissioning is planned for the first quarter of 2026. Following commissioning, Juwi will take over the technical operation and maintenance (O&M) of the projects.


PV portfolio will provide clean electricity for more than 100,000 Greek people

A total of around 430,000 bifacial solar modules and over 800 string inverters will be installed in the projects in the former Hive portfolio. Around 16,000 single-axis tracker systems for tracking the system's daily course of the sun are intended to ensure that the PV systems generate a total of around 515 million kilowatt hours of clean electricity per year. This roughly corresponds to the electricity requirements of more than 100,000 Greek people. The solar park area covers around 430 hectares and is therefore the size of over 600 football fields.


Internationally expanding renewable energies

With the Hive and Foresight-Mirova transaction and the resulting assignment, MVV’s project development company Juwi has successfully and repeatedly benefited from its well-established diversified business strategy which includes both in-house development and acquisition of mature project rights: More recent examples are the 204 MW solar park in Kozani, Greece, and the 223 MW “Pike” solar park in Colorado, USA.

“Juwi currently has a pipeline of 500 megawatts of solar projects in various stages of development in Greece. With the combined capacity of 267 megawatts, the Foresight and Mirova solar portfolio will be the largest in our history. This underlines our role as one of the leading project development companies in selected foreign markets”, adds Stephan Hansen, COO of the Juwi group and responsible for the international business.

“We are very pleased that we’ve managed to sell the portfolio to Foresight and Mirova and sign the EPC and O&M contracts”, comments Takis Sarris, Managing Director of Juwi Hellas. “We are confident that, as always, we will deliver state of the art projects.”

For Foresight, Diomidis Dorkofikis, Partner, says: “We are delighted to make this investment in Greece's renewable energy sector. The joint venture with Mirova brings together considerable expertise and resources and it’s been a pleasure to work with Juwi on this transaction. This investment aligns with our vision of supporting sustainable and profitable energy infrastructure projects. We look forward to witnessing the positive impact this will have on both the Greek energy market and our investors.”

For Mirova, Helene Dimitracopoulos, Investment Director, emphasizes: “We are thrilled to complete Mirova’s third investment in Greece with MET5, reinforcing our commitment to the Energy Transition in Greece. Mirova and Foresight expertise and ambitious aligned seamlessly for this transaction. We have trusted Juwi for its unique global and local experience both as a developer and EPC contractor. Domokos project is a landmark project for Greece ‘s journey towards a greener future and we deeply thank Juwi and Foresight for our excellent collaboration.”

For both transactions with Hive and Foresight-Mirova, Juwi Hellas worked together with the esteemed law firm Karatzas & Partners, while Mirova and Foresight were supported by Zepos &Yannopoulos as legal advisors. “We dearly thank both firms for their hard work and commitment”, adds Takis Sarris.


About MVV Group

With around 6,400 employees and annual sales of more than Euro 7.5 billion in the 2023 financial year, MVV is one of Germany’s leading energy companies. Our activities focus on providing a reliable, economical and environmentally-friendly supply of energy to our industrial, commercial and private household customers. Here, we cover all stages of the energy value chain: from energy generation, energy trading and energy distribution to operating distribution grids through to our sales activities and environmental energy and energy-related service businesses. We are also investing in our future grid capability, modernising our generation plants and innovative green technologies.

We are pioneers of the energy transition. With our Mannheim Model, we have committed to a strategic course that will make us #climatepositive by 2035 – as one of the first energy companies in Germany. We are consistently promoting the heat transition, the electricity transition and the associated expansion in renewable generation methods, as well as green solutions for our customers. As certified by the international “Science Based Targets initiative” (SBTi), our climate targets and initiatives make us the first German energy company to be net zero compatible and a global leader in climate protection. According to the prestigious rating agency ISS, we are also one of the world’s best energy companies when it comes to sustainability. In all our activities, we can count on the mature competence and expertise of our employees. They stand to benefit from secure and attractive jobs in future as well.

MVV is a company in the Rhine-Neckar Metropolitan Region. The MVV Group has operations worldwide.


About Juwi Group

The Juwi Group has been one of the leading specialists for renewable energies for almost 30 years and offers complete project development as well as other services related to the planning, construction, and operational management of renewable energy plants. The business areas mainly include projects with wind and solar energy as well as hybrid systems with storage for industrial applications. The company belongs to Mannheim-based MVV Energie AG, one of Germany’s leading energy companies.

Juwi employs more than 1,300 people worldwide and is present with projects on all continents. Outside Germany, there are subsidiaries in Italy, Greece, South Africa, the USA, Japan, Australia, India, the Philippines, Thailand, Vietnam and Singapore.

To date, Juwi has implemented more than 1,250 wind energy plants with a capacity of about 3,000 megawatts at around 250 locations worldwide in the wind segment; in the solar segment, there are around 2,000 PV plants with a total capacity of around 4,000 megawatts. Juwi's operations management services wind energy and photovoltaic plants with a capacity of more than 4,100 megawatts. Juwi has initiated a total investment volume of more than ten billion euros for the realization of energy projects.


About Mirova

Mirova is a global asset management company dedicated to sustainable investing and an affiliate of Natixis Investment Managers. At the forefront of sustainable finance for over a decade, Mirova has been developing innovative investment solutions across all asset classes, aiming to combine long term value creation with positive environmental and social impact. Headquartered in Paris, Mirova offers a broad range of equity, fixed income, multi-asset, energy transition infrastructure, natural capital and private equity solutions designed for institutional investors, distribution platforms and retail investors in Europe, North America, and Asia-Pacific. Mirova has been active in the energy transition infrastructure sector for 20 years and has financed more than 1,000 projects for a total of over 7.3 GW of potential generation capacity across 48 countries. Mirova and its affiliates had €31.1 billion in assets under management, of which €3.8 billion for energy transition infrastructure investments as of June 30, 2024. Mirova is mission-driven company, labeled B Corp*.

*The reference to a ranking or a label does not prejudge the future performance of the funds or its managers

Portfolio Management Company - French Public Limited Liability Company

RCS Paris No.394 648 216 - AMF Accreditation No. GP 02-014 59

Avenue Pierre Mendès-France – 75013 - Paris

Mirova is an affiliate of Natixis Investment Managers.

www.mirova.com


About Foresight

Founded in 1984, Foresight is a leading investment manager in real assets and capital for growth, operating across UK, Europe, and Australia. With decades of experience, Foresight offers investors access to attractive investment opportunities at the forefront of change. Foresight actively builds and grows investment solutions to support the energy transition, decarbonise industry, enhance nature recovery and realise the economic potential of ambitious companies. A constituent of the FTSE 250 index, Foresight’s diversified investment strategies combine financial and operational skillsets to maximise asset value and provide attractive returns to its investors. Its wide range of private and public funds is complemented with a variety of investment solutions designed for the retail market. Foresight is united by a shared commitment to build a sustainable future and grow thriving companies and economies.

www.foresight.group


Download press photos:

https://www.iwrpressedienst.de/bild/juwi/29439_Foresight-JUWI-Mirova-2.jpg
© JUWI

https://www.iwrpressedienst.de/bild/juwi/eed3e_Athens_OlympicStadium_2024.JPG
© JUWI


Wörrstadt, 26 July 2024


Publication and Reprint free of charge; please send a voucher copy to JUWI GmbH.


Attention editorial offices - For further questions please contact:

Media contactS:

Christian Hinsch
Press Spokesperson
Tel: +49 (0)6732 9657-1201
Mob: +49 (0)172 67949 12
E-Mail: hinsch@juwi.de


JUWI GmbH
Energie-Allee 1
55286 Wörrstadt

Internet: https://www.juwi.com


MVV Energie AG
Sebastian Ackermann
Head of Communications and Brand
Tel: +49 (0)621 290 34 13
E-Mail: sebastian.ackermann@mvv.de
Internet: https://www.mvv.de

Sprache:

Online-Pressemappe - alle Pressemitteilungen der JUWI GmbH | RSS-Feed abonnieren

---

Pressebilder nur für die redaktionelle Verwendung
Hinweis: Für den Inhalt der Pressemitteilung ist der Emittent / Herausgeber der Meldung »JUWI GmbH« verantwortlich.