Photovoltaic Parks

Aegean Development undertakes studies, project portfolio management, and the construction of photovoltaic parks on behalf of its clients. It has licensed photovoltaic parks in Greece and Cyprus in its portfolio.


We are known for our reliability, professionalism, and the maximum financial benefit that we take care to ensure for our customers. We always have the largest foreign houses as our suppliers, who guarantee us quality, reliability, long-term guarantees, and high technical support.
We specialize in facilitating the resale of fully operational or ready-to-build PV park implementations to both Greek investors and those from third countries looking for secure long-term investments.


These investments provide our investors with peace of mind and insurance coverage that extends for at least 20 years, thus ensuring a safe and reliable investment opportunity with zero risk.

Discover the Greek Photovoltaic Market: Your Comprehensive Guide

In recent years, the allure of investing in photovoltaics has surged, driven by a significant drop in investment costs compared to the previous decade—an average reduction of 80%. Simultaneously, legislative adjustments reflect this evolving landscape.

Today, investors are presented with a spectrum of options tailored to their desired investment type and scale:

  1. Sale of the energy to the grid

 

  • With fixed prices per kilowatt hour ,(feed in premium) for PV systems up to 500 kWp or 1 MWp specifically for Energy Communities.
  • By participating in competitive processes for PV systems greater than 500 kWp or 1 MWp specifically for Energy Communities.
  • With direct participation in the wholesale markets of the Energy Exchange.
  • By concluding Power Purchase Agreements (PPAs), a contractual agreement between you and interested consumers, you can sell directly the energy produced to consumers.

 

2. Self consumption PV systems

  • Self consumption PV system under the net-metering schema.
  • Self consumption PV system with the sale up to 20% of the produced energy (only for companies)

 

The Hellenic Association of Photovoltaic Companies has published a complete investment guide for those interested, which can be found here.

Licensing of photovoltaic power plants

According to Law 3851/2010, no certifying decision is required for photovoltaic systems of power up to 1 MWp.
For photovoltaic systems of power greater than 1 MWp, the Certificate of Electricity Producer is required.


The Certificate of Electricity Producer is a relatively short and automated application verification process, with a minimum of the required documentation required. The Certificate of Electricity Producer maintains certifies the status of Producer, while it is a basic identity of the project and secures the position of the power plant.. Applications are submitted electronically from the first to the tenth day of the months of February, June, October (application cycle). A prerequisite for the examination of applications of the next cycle is the completion of the examination of the applications of the same cycle.

For the issuance of a Certificate of Electricity Producer, the presentation of a “Producer Certificate Letter of Guarantee” is required. A copy of the Letter of Guarantee is submitted electronically at the same time as the application is submitted. The amount of the Letter of Guarantee is set at thirty-five thousand (35,000) euros per megawatt (35,000 € / MW) of maximum production power.


For photovoltaic power plants that require a Certificate of Electricity Producer, they also require Installation License and Operating License. Both of them are issued by the competent Decentralized Administration.

Environmental licensing

For photovoltaic power plants up to 1 MWp installed on plots, no environmental permit is required, as long as certain conditions are met. For these systems, a special environmental exemption is required (“Certificate of Exemption from Approval of Environmental Conditions “) from the competent Regional Authority, which, according to the law, is given within 20 days from the submission of the relevant application.
For photovoltaic power plants that are installed in land that belongs to a NATURA area or coastal zones (100m from the shoreline border off rocky islands) then environmental licensing in required:

  • For photovoltaic power plants of power up to 1 MWp, then a special license called Standard Environmental Commitments are required. This is a relatively simple procedure
  • For photovoltaic power plants of power greater than 1 MWp, Approval of Environmental Conditions is required, that is issued after application and detailed environmental impact study
  • For photovoltaic power plants of power from 1 to 10 MWp belong to Category B (for which Standard Environmental Commitments are required), while power systems greater than 10 MWp in Category A2 (No. RIS / DIPA / 74463/4562, Government Gazette 2929B ‘/ 6- 8-2020).

 

No environmental licensing is required for systems installed in buildings and organized receptacles for industrial activities.

Licensing Steps
PV with power up to 500 kWp

  • Certificate of exemption from Approval of Environmental Conditions (EPO) – subject to specific exceptions where Approval of Environmental Conditions is required -, which is issued by the competent Region (this obligation excludes projects on buildings or organized receptacles of industrial activities). ,The Certificate of exemption, according to the law, is given within 20 days from the submission of the relevant application
  • Characterization of the plot in terms of whether it is agricultural land of high productivity or not
  • Approval of Small-Scale Construction Works by the Urban Planning Authority (not required for roof systems with power up to 100 kWp)
  • Offer of connection terms to the grid by the grid company HEDNO (ΔΕΔΔΗΕ) and signing of the relevant contact of connection to the grid
  • Signing of the Purchase Agreement with DAPEEP (RES & Guarantee Manager of Origin)

Licensing Steps
PV with power greater than 1 MW

  • Certificate of Electricity Producer which is issued by the Regulatory Authority for Energy (RAE)
  • Characterization of the plot that it is not a agricultural land of high productivity
  • Installation License, which is issued by issued by the competent Decentralized Administration. This may require an Approval of Environmental Conditions.
  • Approval of Small-Scale Construction Works by the Urban Planning Authority
  • Offer of connection terms to the grid by the grid company HEDNO (ΔΕΔΔΗΕ) for Medium Voltage connection to the grid r by the IPTO (ΑΔΜΗΕ) for High Voltage connection to the grid
  • Signing of the Purchase Agreement with DAPEEP (RES & Guarantee Manager of Origin) if the project has successfully participated in a competitive process
  • Installation License and Operating License. Both of them are issued by the competent Decentralized Administration.

In the Connection to the grid Contracts concluded by the competent grid Administrator (HEDNO (ΔΕΔΔΗΕ) for Low or Medium Voltage connection to the grid and IPTO (ΑΔΜΗΕ) for High Voltage connection to the grid) with the photovoltaic power plant operators that are excluded from the receipt of a Certificate of Electricity Producer, a deadline to connect the PV power plant is set, which is exclusive. The investor must send a letter of guarantee in order to meet the deadline

  • The amount of the letter of guarantee is defined, per unit of rated power of the request in kilowatts (kW) as follows
  • forty-two euros per kilowatt (42 euros / kW) for the power segment up to one megawatt (1 MW),
  • twenty-one euros per kilowatt (21 euros / kW) for the power segment from one to ten megawatts (1 to 10 MW),
  • fourteen euros per kilowatt (14 euros / kW) for the power segment from ten to one hundred megawatts (10 to 100 MW) and
  • seven euros per kilowatt (7 euros / kW) for the part of the power over one hundred megawatts (100 MW).

Upon signing the contract for connecting to the grid, the amount of the letter of guarantee is reduced to one quarter of the original amount. The duration of the letter of guarantee is at least two years, obligatorily renewable before its expiration, and until the power plant is put into trial operation or, if no probationary period is provided, until its connection is activated.
All projects related to installations in buildings, regardless of their validity, are exempted from this guarantee (Law 4152/2013, Government Gazette 107A / 9-5-2013).


It is noted that in agricultural plots that are characterized as high productivity agricultural land, the installation of PV is not allowed. However, it is allowed for PV stations with a power of 1 MW, as long as the total of PV stations that are installed in high productivity agricultural land do not exceed 1% of the total cultivated areas of each Regional Unit. The control of the above criterion is carried out by the Grid Administrator when submitting the relevant application.

Aegean Development specializes in conducting solar energy studies, overseeing the entire application process until final approval across various government programs. Additionally, we undertake the construction of photovoltaic parks in Greece and Cyprus, leveraging partnerships with leading international suppliers such as Luxor, Axitec, Meyer Burger, Jingo Solar, Huawei, Sungrow, Fronius, SMA, Kostal, and Kako.