Luxcara has taken a major step into the Greek renewable energy market by finalizing financing for its first project in the country. The solar power plant, located in Kozani, will have an installed capacity of 83 MW.
The investment is backed by a combination of funding sources, including the Recovery and Resilience Facility under the NextGenerationEU framework, as well as financing from Piraeus Bank and Optima Bank.
The facility will include around 130,000 photovoltaic panels mounted on single-axis tracking systems, designed to optimize energy production by following the sun’s movement throughout the day. This technology is expected to significantly improve efficiency compared to fixed solar installations.
Luxcara has also signed a long-term power purchase agreement (PPA) with Amazon, under which the tech company will buy the electricity generated by the plant. The agreement ensures stable revenue through a pay-as-produced model and highlights the growing role of corporate buyers in Europe’s renewable energy sector.
Project development is being carried out by Ameresco Sunel Energy, a joint venture between Ameresco and Sunel Group, following Luxcara’s acquisition of a majority stake in the project last year.
The investment reflects Luxcara’s broader strategy to expand across European energy markets, while supporting the transition to renewable energy and strengthening long-term energy security.
