French Firm Akuo Energy Looks to Set up Agrisolar Portfolio in Greece

Akuo Energy agrisolar expansion

French renewable energy firm Akuo Energy has established its first solar park in Greece. Back in October 2021, the firm had set up the 1 MW Chalki island project.

The newly launched project includes four PV comprising 1 MW each. The yearly output of the project will help meet the needs of 350 households, the firm says. The electricity that the solar power generates will be sold off in the energy market.

Akuo is eyeing in the coming time the establishment of PV plants with a cumulative capacity of 500 MW. Currently, the projects in its kitty are at an advanced stage of development.

The new photovoltaic plant is a result of the MoU signed between the regional authority and local agricultural firms, that will together set up floating solar power plant projects and solar PV plants on irrigation canals.

Akuo informed that it would give an impetus to the addition of renewable energy sources with the region’s agricultural activity. These will also entail energy storage.

The firm is also proactively working on projects in other Balkan countries. The Government of North Macedonia has accorded Akuo’s 400 MW solar power plant a strategic investment status. Recently, Prime Minister Dimitar Kovačevski said that this would prove to be a model for agricultural development. That apart, the firm also got a nod for EUR 16 million from the Energy Transition Europe fund towards the refinancing of a 43 MW wind farm in Ogorje, Croatia.

The French energy firm has partnered in IEL OIE Balkan Renewable Energy’s 85 MW Bašaid wind farm project in proximity to Kikinda in Serbia. It has made an acquisition of Bulgaria’s five hydropower plants that have a cumulative capacity worth15.5 MW (as of 2021).

The Chairman and Co-Founder of Akuo Energy Eric Scotto motivated Southeastern European countries in 2022 to give a push to private power purchase agreements or PPAs, while adding that these are an important solution to energy crisis.

Last year, US-based solar module manufacturer, First Solar announced a new renewable energy Global Supply Agreement with Akuo Energy. Through the agreement, First Solar will supply 500 MW of thin film PV solar module to Akuo Energy.