"In terms of maintaining and expanding our market leadership in Greece, this is the most important milestone to date", says Dieter Schmitt, Head of Conergy Greece.

"I am particularly pleased that we will be equipping the power plants almost exclusively with our own Conergy system technology, i.e. with Conergy PowerPlus modules, Conergy IPG inverters, and Conergy mounting systems from our own production. This is clear proof of the quality awareness of our Greek customers."

Approval of the 20 solar PV projects, each rated at 1-4 MW, is close to being finalised, Conergy says. Construction is expected to begin by the second quarter of 2011, and will last around 18 months.

Depending on plant size, investors receive €0.45-0.50/kWh for solar PV plants.