* JV to initially develop up to 2 GW of solar projects
* RWE holds 51%, PPC 49%
* Advanced projects to start operations in 2023
FRANKFURT, Oct 7 (Reuters) - RWE, Germany's
biggest power producer, on Thursday said it has formed a joint
venture with Public Power Corporation (PPC), which
will initially focus on realising solar projects worth up to 2
gigawatts in Greece.
The 51-49 joint venture is RWE's first move into the Greek
market, the company said, adding both firms had agreed to not
disclose financial details of the deal.
"Greece is a promising growth market for us, with its high
solar energy levels and clear commitment to renewables," said
Katja Wuenschel, chief operating officer for onshore and PV
Europe and Asia-Pacific of RWE Renewables.
"Growing new renewable energies is the clear focus for RWE."
PPC will contribute nine solar projects worth a combined 940
megawatts and located in northern Greece's west Macedonia
region. RWE Renewables has secured a project pipeline of similar
size for the venture.
RWE said the projects are at various stages of development,
with the more advanced expected to start operations in 2023 and
the less developed possibly following two years later.
(Reporting by Christoph Steitz; Editing by Riham Alkousaa and