ContourGlobal has entered Greece’s renewable energy market through the acquisition of a 37 MWp operating solar PV portfolio and 500 MW/2,000 MWh of standalone battery storage projects. The transactions provide immediate contracted solar generation and a sizeable merchant BESS pipeline, positioning the company to support Greece’s accelerating renewable deployment and grid-balancing needs.
PROJECT SNAPSHOT
ContourGlobal has entered the Greek renewable energy market with the acquition of about 37 MWp of operating solar PV and 500 MW / 2,000 MWh of battery storage projects.
The operational solar portfolio includes 26 operational PV plants commissioned between 2011 and 2022 and previously owned by Quest Energy, a subsidiary of Quest Holdings. The operational PV portfolio generates around 51 GWh annually and is contracted under Greece’s Feed-in Tariff (FiT) and Feed-in Premium (FiP) schemes.
According to the company, they acquired full ownership of six standalone battery storage projects totaling 500 MW / 2,000 MWh through two transactions with Fotowatio Renewable Ventures (FRV), a Spanish renewable energy developer and Zephiros, a Greek renewable energy developer. The first 100 MW / 400 MWh ready-to-build (RtB) Taxiarches facility in Thessaly, is scheduled to start construction in the coming months with the commercial operation expected by early 2027. The project will be located in the Municipality of Farkadona, within the Regional Unit of Trikala. It will operate as a merchant battery energy storage system with 4-hour storage duration, supporting grid balancing and renewable power integration.
The second transaction includes up to 400 MW / 1,600 MWh of BESS capacity across six projects and has secured environmental approvals. The projects are eligible under Greece’s Priority Regime for BESS, introduced in March 2025 to accelerate the development of up to 4.7 GW of standalone battery storage. The company received legal advice from Norton Rose Fulbright Greece, financial due diligence support from Baker Tilly Greece, and technical due diligence services from TUV NORD Greece for these two transactions.
ContourGlobal said the acquisition was among the first transactions approved under Greece’s new Foreign Direct Investment (FDI) directive. The review process evaluates foreign acquisitions involving critical energy and infrastructure assets.
Antonio Cammisecra, CEO of ContourGlobal, said Greece’s renewable growth and storage demand aligned with the company’s experience operating grid-scale BESS across multiple markets.