Luxcara Enters Greek Market with 83 MW Solar Project at Financial Close

Luxcara has reached financial close for its first energy infrastructure investment in Greece. The project, located in Kozani, Western Macedonia, Greece, will have a total nominal capacity of 83 MWp. The financing includes contributions from Greece’s Recovery and Resilience Facility (RRF), funded by the European Union – NextGenerationEU, under Greece’s national plan ‘Greece 2.0’,  as well as from Piraeus Bank and Optima Bank.

Additionally, Luxcara has secured a long-term pay-as-produced PPA with Amazon. It marks Luxcara’s second renewable energy agreement with Amazon, following the large-scale PPA from the 750MW+ Önusberget Wind Farm in Sweden. After acquiring a majority stake in the project in 2024, Luxcara awarded the EPC contract to Ameresco Sunel Energy SA, a partnership between Ameresco Inc. and Sunel Group. The project will involve the installation of roughly 130,000 photovoltaic modules mounted on single-axis trackers to enhance energy production. By following the sun’s movement and continuously adjusting the panel orientation, these tracker-based systems can capture more solar radiation compared to fixed-tilt installations, thereby improving overall efficiency.