Thessaloniki, 26th February 2025– FARIA Renewables SA, a rapidly expanding Greek renewable energy Independent Power Producer (IPP), is pleased to announce the successful conclusion of a 10-year Power Purchase Agreement (PPA) with Duferco Hellas SA, a prominent player in the energy trading sector in Greece. The agreement is signed through FARIA Renewables’ project company, Faria Nesson SA.
Under the terms of this strategic partnership, Duferco Hellas SA will be able to offtake 70% of the renewable energy produced by the Faria Nesson solar project, further reinforcing both companies’ commitment to sustainability and accelerating Greece’s energy transition by reducing carbon footprints and promoting the use of renewable energy sources.
The solar farm is expected to enter operation within the first quarter of 2026 and will produce annually 31.000 MWh, the equivalent of the consumption of approximately 8,000 households in Greece by displacing around 13,360 tons of CO2 emissions annually.
Thalia Valkouma President & CEO of FARIA Renewables SA said: “This partnership with Duferco Hellas SA is a significant milestone in advancing renewable energy adoption in Greece, reaffirming our commitment to delivering reliable, clean energy solutions while driving the country’s decarbonization efforts. As we continue to expand our renewable energy projects and battery storage systems, we remain dedicated to powering a sustainable tomorrow.”
Yiannis Panagiotopoulos, Managing Director of Duferco Hellas SA added: “This PPA aligns with our strategy to source renewable energy and underscores our responsibility towards sustainability and the energy transition. We are proud to collaborate with FARIA Renewables SA on this impactful project.”
This green PPA highlights the growing role of such agreements as a critical mechanism to secure clean and affordable energy, aligning at the same time with Greece’s renewable energy targets. Through this collaboration, FARIA Renewables SA and Duferco Hellas SA are paving the way for a cleaner, more sustainable energy future in Greece.
About FARIA Renewables SA
FARIA Renewables was established in 2023 and has quickly became a significant player in the renewable energy sector in Greece, owning a portfolio of over 3,500 MW under development at various stages of maturity, and more than 200 MW under construction and in operation.
The company is implementing a dynamic growth strategy, expanding its project portfolio, and exploring opportunities to enter new markets. Its goal is to become a leading Independent Power Producer (IPP) in Greece and Europe.
Specializing in offshore and onshore wind projects, photovoltaics, hybrid systems, energy storage, and green hydrogen, FARIA Renewables is committed to promoting innovative energy solutions that contribute substantially to the energy transition, combining corporate expansion with sustainable development of the environment and the local communities.
About Duferco Hellas SA
Duferco Hellas SA, established in 2019 in Athens as a subsidiary of the Duferco Group, is an energy firm and key player in South-Eastern Europe, committed to integrating sustainability into its core operations and actively developing new PPAs to expand its renewable portfolio and drive energy sustainability forward.
For media inquiries, please contact:
FARIA Renewables SA
Marianthi Giarmantzidou press@fariarenewables.com, +30 2314 437715
Nena Polychronidou nena.polychronidou@fariarenewables.com, +30 2314 437715
DUFERCO Hellas SA
Matteo Parodi m.parodi@dufercohellas.gr, +30 210 6463634
