Luxcara closes financing for 83MWp Kozani solar project in Greece with Amazon PPA

Luxcara reached financial close on the 83MWp Kozani solar PV project in Greece, its first investment in the country, with construction already underway. The project features approximately 130,000 PV modules mounted on single-axis trackers and has secured a long-term pay-as-produced power purchase agreement with Amazon. Financing was provided by Greece’s Recovery and Resilience Facility alongside Piraeus Bank and Optima Bank, while Ameresco Sunel Energy was awarded the EPC contract. The project underscores Luxcara’s expansion strategy in Europe, leveraging Amazon’s offtake commitment as a key anchor tenant. Lorenz Hahn, investment manager at Luxcara, highlighted the significance of the deal in reinforcing the company’s European footprint and trust in Amazon as a long-term partner.

Counterparts (6)

Lender

Piraeus Bank

company · 1 deals

Piraeus Bank is a Greek bank offering a range of financial products and services to individuals, businesses, and corporations. They provide banking solutions, including deposits, loans, cards, insurance, and investment options, with a focus on supporting customers' financial needs and promoting sustainable practices.

G

Greece’s Recovery and Resilience Facility

company

O

Optima Bank

company

EPC Contractor

A

Ameresco Sunel Energy

company

Offtaker

A

Amazon

company · 5 deals

Amazon is actively investing in renewable energy to power its operations, both through direct acquisitions and power purchase agreements. They are expanding their portfolio with solar-plus-storage and nuclear energy in the US. Furthermore, Amazon is collaborating with energy companies and acting as an offtaker for renewable energy projects in Europe, including wind power in Poland and broader renewable energy initiatives in France.

Developer

Luxcara

company

Hamburg-based independent asset manager specializing in clean energy infrastructure investments across Europe. Manages €5B in assets with a focus on solar PV, onshore/offshore wind, and battery storage projects. Targets both greenfield development and operating assets in multiple European markets.