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PRAGUE, February 21, 2024 /PRNewswire/ -- SPV AMBER ENERGY, part of the SOLEK Holding group of Czech businessman Zdeněk Sobotka, has become one of the winners of the auction for the supply of battery energy storage facilities to large scale in Greece. In this second national auction, organized by the Energy Regulatory Authority (SAR) of Greece, SOLEK was awarded a 18MW/36MWh project. This significant success will allow SOLEK to expand its presence in the renewable energy sector and offer innovative energy storage solutions in Greece.
This is SOLEK's first energy project awarded at auction in Greece. It places the company among the main energy players contributing to the development of sustainable energy in Europe and around the world. "The 18 MW battery energy storage project not only strengthens our renewable energy portfolio, but also our ability to compete successfully in the international energy market. We hope to replicate this success in other countries in the future. In Europe, our target is Cyprus, Romania and the Czech Republic, for example," said Zdeněk Sobotka, owner and founder of SOLEK Holding.
Greece, with the support of the EU Modernization Fund, is auctioning 1 GW of batteries with the aim of ensuring the stability and flexibility of the energy grid and creating the conditions for the transition to renewable energy sources. This was the country's second major auction, organized by the Energy Regulatory Authority (SAR) of Greece, and this time 11 projects from 7 bidders were successful. The total assigned capacity was 300 MW. One of the decisive criteria was the price offered per megawatt of capacity per year, with an average offer price of 47,680 euros.
In 2022, the EU approved the Greek government's plan to spend €341 million on 900 MW of energy storage capacity. On May 20, 2023, the Greek Government issued the Ministerial Decision regarding the energy storage support plan, for a total capacity of 1,000 megawatts divided into three separate auctions of 400, 300 and 300 MW, respectively. State support takes the form of investment subsidies for projects during construction, followed by annual support for the first 10 years of operation. In the case of this second auction, investment support (capital expenditure) stood at 100,000 euros per megawatt, half that of the previous auction.
By increasing its available electricity storage capacity, Greece will be prepared for a future where renewable energy forms the backbone of the energy mix. "Greece is becoming one of the leaders in the fight against climate change thanks to its efforts to decarbonize its energy sector, taking advantage of its strategic position and its enormous renewable potential in the solar and wind sector," added Gregoris Marinakis, regional director from Greece and Cyprus in SOLEK.
SOLEK Holding is a leading energy company dedicated to the design, construction and operation of solar power plants in Europe and Latin America. In particular, it operates in Chile, where it manages nearly 40 photovoltaic plants with a total capacity of more than 250 MW. The Group is now focusing on new and promising areas, such as the development of floating photovoltaic plants, agrivoltaics and battery energy storage. SOLEK Group as a whole had 274 MW connected at the end of 2023, and currently has 212 MW of solar plants under construction.
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