ContourGlobal acquires 2 GWh of BESS in Greece

ContourGlobal has acquired a total of 500 MW/2 GWh of Greek BESS capacity from Spanish developer FRV and Greek developer, Zephiros.

In one transaction, the company purchased the ready-to-build 100 MW/400 MWh Taxiarches BESS in Thessaly. The remaining 1.6 GWh of the 2 GWh of the Italian company’s new Greece-based storage assets is spread across six projects that all fell under one single transaction.

The Taxiarches BESS project is scheduled to begin construction in the first quarter of this year, with commercial operation slated for 2027. The battery will become one of Greece’s first operational merchant projects and will provide four hours of storage capacity to the grid.

All projects have secured environmental approvals, key permits, and have applied for grid connection. They are all eligible under Greece’s Priority Regime for BESS Projects, which was launched in March 2025 to increase standalone battery storage capacity in the country.

Norton Rose Fullbright Greece provided legal assistance, BakerTilly Greece provided financial due diligence and TUV Nord Greece oversaw technical due diligence for both BESS transactions.

In addition to the 2 GWh of storage assets in Greece, ContourGlobal has also acquired a solar portfolio that was previously owned by Quest Energy, a subsidiary of the listed Greek group Quest Holdings. The acquisition was one of the first transactions to be filed and approved unconditionally under Greece’s new foreign direct investment directive which encourages foreign investment in critical energy infrastructure.

The solar portfolio comprises 26 operating PV plants with a total installed capacity of around 37 MWp. The assets are fully contracted under the feed-in-tariff and feed-in-premium and have a total expected yearly generation of around 51 GWh.

ContourGlobal’s Greek market entry comes hot on the heels of the company’s commissioning of one of the largest operating batteries in the neighboring country of Bulgaria.

According to its website, the company has 5.7 GW of renewables projects in operation and 1.8 GW under construction. In July 2025, it announced the acquisition of 9.5 GWh worth of BESS capacity in Italy.

“While continuing our simplification and rationalization effort, entering the Greek market is a further step in ContourGlobal ambition to become a leading independent power producer in renewables and energy storage”, said Antonio Cammisecra, CEO of ContourGlobal. “Greece combines rapidly growing renewable penetration with a booming need for large-scale storage solutions. Building on our experience operating large-scale BESS projects from Chile to Bulgaria and on the developments already underway in the United States, we see Greece as a key market to scale our battery storage portfolio in Europe and support the country’s energy transition”.

Meanwhile, also in Greece, energy company Metlen and Athens-headquartered shipping company Tsakos Group are entering a joint venture for the development, construction, operation, and commercial management of a hybrid power generation project in the center of the country. The project comprises a 251.9 MW solar park and a BESS with an expected capacity of 375 MWh. Tsakos Group will take on 60% of the project, while Metlen will oversee the remaining 40%. The two companies are targeting implementation of the investment to begin this year with completion targeted for early 2028.