ECONOMY

PPC renewables seeks bids for Greece’s largest solar projects

Public Power Corp., Greece’s biggest power company, started its second tender in a month seeking developers to build large-scale solar parks.

The company’s renewables unit will accept bids for two 15- megawatt photovoltaic projects in Kozani, Macedonia, until March 26, it said in a regulatory filing Tuesday. The budget for the engineering, procurement and construction contract is 39 million euros ($52 million), excluding valued-added tax.

Greek solar capacity more than doubled last year to reach 1,500 megawatts driven by the European Union’s highest tariffs. PPC’s tenders this month are the biggest started so far, even if developers plan four solar parks with 100 to 200 megawatts each with fast-track government status.

The bidding process Tuesday comes a week after PPC Renewables started another tender for two solar parks in Megalopoli, southern Greece, with 39 and 11 megawatts. In separate offers, the unit seeks contractors to build both plants for no more than 19 million euros and equipment suppliers for another 47 million.

PPC already awarded these two projects last year to J&P Avax SA, a local contractor. In September, however, it canceled the deal after no funds were secured to build them. [Bloomberg]