MYTILINEOS Energy & Metals has signed a 210MW long-term Power Purchase Agreement (PPA) with KARATZIS SA for the green energy produced from a 262 MW solar portfolio.

According to the announcement, MYTILINEOS will be able to offtake 80% of the energy produced, enhancing further its green supply basket. This portfolio consists of 35 solar projects, all located in Larissa prefecture. The projects with a total budget of 180m have been fully developed by KARATZIS as a strategic investment plant and the construction has been awarded to MYTILINEOS M Renewables sub-segment, which is internationally acknowledged as a top integrated developer and contractor, with a focus on sustainable development, protection of the environment, while investing in local communities where it operates.

All solar farms are expected to enter operation within the third quarter of 2024 and under this PPA they are expected to produce annually 380 GWh, the equivalent of the consumption of 97,000 households in Greece by displacing around 162,000 tonnes of CO2 emissions annually. MYTILINEOS strategically seeks opportunities to secure green PPAs, aiming to reduce energy costs both for its own assets and those of its business partners.

Τhis transaction further implements its sustainable approach across the region by targeting on blending renewable PPAs either with third parties or with own assets. KARATZIS respectively bolster and broaden the group's green energy portfolio by investing actively in renewable energy projects and Battery Storage Systems. This is the second PPA signed year in Greece for MYTILINEOS, following the agreement with EDP Renewables in February 2023, whilst the Company continually secures PPAs for its international portfolio with esteemed partners.