SPI Solar, a vertically integrated PV project developer, has entered into two new project deals for installations in Greece.
First, the company will serve as the engineering, procurement and construction contractor for the design and construction of 7.4 MW. SPI entered a purchase agreement with Thermi-Taneo Venture Capital Fund, which will buy ownership of three projects in the Evros region of Greece from SPI. Under the terms of the agreement, SPI is selling each of the three projects, including land-lease agreements and related permits to build the three projects.
In addition, SPI has entered into a memorandum of understanding (MOU) with Thermi-Taneo Venture Capital Fund and an additional fund – AIMS-Taneo Fund – to develop utility-scale solar facilities throughout Greece.
The MOU establishes a minimum commitment for Taneo to provide 23 MW of projects for SPI to design and build, and sets as a goal for Taneo and SPI to potentially develop a total of 100 MW. Under the MOU, SPI will provide EPC services, while Thermi and AIMS will provide equity to own and operate the projects.