Juwi GmbH Finalizes Sale of Largest PV Portfolio in Company History

Juwi GmbH Finalizes Sale of Largest PV Portfolio in Company History

(IN BRIEF) Juwi GmbH has sold a 267 MW photovoltaic portfolio in Greece to Foresight and Mirova, marking the largest project in its history. Juwi will serve as the EPC and O&M contractor, with construction starting in August 2024. This project will generate clean electricity for over 100,000 Greek households, supporting Greece’s renewable energy goals.

(PRESS RELEASE) WÖRRSTADT, 26-Jul-2024 — /EuropaWire/ — Juwi GmbH, a wholly-owned subsidiary of MVV Energie AG, has reached a milestone by finalizing the sale of a 267 MW photovoltaic (PV) portfolio in Greece to Foresight and Mirova. Following this transaction, Juwi has been appointed as the Engineering, Procurement, and Construction (EPC) contractor and will also manage the Operation and Maintenance (O&M) of the projects. The construction is set to commence in August 2024.

In November 2023, Juwi Hellas acquired this PV portfolio, which consists of three clusters (160 MW, 40 MW, and 67 MW), from Hive Energy Ltd. The projects, now transferred to Foresight and Mirova, are located in the regional units of Fthiotida and Larissa, Central Greece, approximately 300 kilometers north of Athens. Juwi is responsible for the technical design, procurement, and construction, with commissioning planned for the first quarter of 2026. Post-commissioning, Juwi will oversee the technical operations and maintenance of the projects.

Impact and Scope of the Project

The portfolio will feature around 430,000 bifacial solar modules and over 800 string inverters, installed across 16,000 single-axis tracker systems to maximize solar exposure. These installations will generate approximately 515 million kilowatt-hours of clean electricity annually, sufficient to power over 100,000 Greek households. The total project area spans 430 hectares, equivalent to over 600 football fields.

Strategic Expansion in Renewable Energy

The successful transaction with Hive, Foresight, and Mirova underscores Juwi’s strategic focus on both in-house development and acquisition of mature project rights. Recent examples of this strategy include the 204 MW solar park in Kozani, Greece, and the 223 MW “Pike” solar park in Colorado, USA. Juwi’s current pipeline in Greece includes 500 MW of solar projects at various development stages.

Stephan Hansen, COO of Juwi Group, remarked, “With a combined capacity of 267 megawatts, this portfolio marks the largest project in our history and reinforces our position as a leading project development company in key international markets.”

Collaborative Success

Takis Sarris, Managing Director of Juwi Hellas, expressed satisfaction with the transaction, stating, “We are delighted to have sold the portfolio to Foresight and Mirova and to have signed the EPC and O&M contracts. We are confident in delivering state-of-the-art projects.”

Foresight Partner Diomidis Dorkofikis added, “This investment in Greece’s renewable energy sector aligns with our vision of supporting sustainable and profitable energy infrastructure projects. We look forward to the positive impact on both the Greek energy market and our investors.”

Helene Dimitracopoulos, Investment Director at Mirova, emphasized, “This project is a landmark in Greece’s journey towards a greener future. We are thrilled to collaborate with Juwi and Foresight, leveraging our combined expertise to drive the Energy Transition in Greece.”

Both transactions were supported by esteemed law firms Karatzas & Partners for Juwi Hellas, and Zepos & Yannopoulos for Mirova and Foresight.

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.

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.

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SOURCE: JUWI