Friday, December 7, 2012

retroactive taxes on solar and state financial issues have consequences

No bids on PPC tender for 200 MW PV plant in Greece

06.12.2012: Renewable energy project developer PPC Renewables SA (PPCR), a subsidiary of Greek utility Public Power Corporation SA, told PHOTON that it did not receive any bids in response to a 200 MW call for tender that closed on November 30. A PPCR spokeswoman told PHOTON that the company is still interested in developing the project despite the lack of tenders: "We are still examining the legal and financial arrangements for the implementation of the project." The photovoltaic (PV) project was to be built in Kozani, in the Western Macedonia region of Greece, at a cost of €500 million ($654 million). Twenty-one consortia had submitted preliminary proposals to develop, construct and operate the 200 MW project during an earlier stage of the tendering process, but none of these consortia followed up with an actual bid. The deadline for bids was originally scheduled for early 2012 but was postponed to November 30 at the request of the 21 consortia, who needed more time to secure project financing. There is a severe lack of liquidity in Greece due to the financial crisis, which has made it difficult for project developers to finance solar projects. On top of that, the Greek government recently introduced a retroactive tax on revenue generated by photovoltaic installations. Source: PPC Renewables



Monty Bannerman

ArcStar Energy


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