Photovoltaic describes the technology that converts sunlight directly into electricity using panels made of semiconductor materials; think of it like leaves turning sunlight into usable energy for a plant, but producing power for homes, factories and the grid. It matters to investors because photovoltaic systems represent assets, revenue sources, cost structures and regulatory exposure for energy and manufacturing companies, and their adoption rates and efficiency gains affect long-term profitability and market demand.
one-axis tracking systemtechnical
A one-axis tracking system is a mount for solar panels that tilts panels along a single horizontal or vertical line so they follow the sun’s movement across the sky during the day. For investors, it matters because this simple “follow-the-sun” mechanism typically raises a solar array’s energy output and revenue compared with fixed panels, while adding predictable costs for equipment, installation and maintenance that affect project returns and risk.
engineering procurement and constructiontechnical
A turnkey project delivery model where a single contractor handles design and engineering, buys all required materials and equipment, and manages construction until the project is ready to operate. For investors, EPC contracts concentrate responsibility and schedule risk with one party, like hiring a general contractor to build a house from blueprint to move-in; this affects project timelines, cost predictability, and who bears overruns or delays that can influence returns.
medium voltagetechnical
Medium voltage describes the range of electrical voltages used to move power between substations and large equipment—higher than household supply but lower than high-voltage transmission—typically from a few hundred to several tens of thousands of volts depending on local standards. Investors care because assets operating at medium voltage involve bigger safety rules, heavier engineering, higher installation and maintenance costs, and regulatory inspections, all of which affect capital needs, operating risk and insurance, much like larger plumbing mains increase project complexity and expense.
high voltagetechnical
High voltage describes electrical systems or equipment that operate at a much greater electric potential than household outlets, producing a strong force that can move large amounts of electricity across distances. Investors care because high-voltage assets—like transmission lines, transformers or industrial machines—carry higher construction and safety costs, stricter regulations, liability and maintenance risks; think of it like higher water pressure in a main pipe that enables greater flow but requires sturdier pipes and extra safeguards.
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Advanced Solar Tracking Project to Support Greece’s Renewable Energy Goals While Enhancing Energy Security and Efficiency
FRAMINGHAM, Mass. & KOZANI, Greece--(BUSINESS WIRE)--
Ameresco, Inc., (NYSE: AMRC), a leading energy infrastructure solutions provider, together with its joint venture partner Sunel Group, today announced the launch of an 83 MW solar installation in Kozani, Greece. The large-scale renewable energy project is set to significantly enhance the region’s energy resiliency while supporting Greece’s transition toward a decarbonized future.
Ameresco partners with Sunel Group on 83 MW solar installation to reinforce the region’s grid reliability and energy distribution capabilities.
Ameresco SUNEL Energy SA was awarded with an Engineering Procurement and Construction contract (EPC) by Luxcara, a leading German energy infrastructure asset manager, holding the majority stake of the project. The Kozani solar project is designed to ensure high-efficiency energy generation while delivering long-term environmental and financial benefits. Nearly 130,000 photovoltaic modules will be installed on a one-axis tracking system to optimize energy yield. By tracking the position of the sun throughout the day, tracker-mounted PV modules can optimize energy capture and maximize efficiency. The EPC also includes Medium Voltage (MV) grid connection and an extension of the 400/33 kV High Voltage (HV) substation, reinforcing the region’s grid reliability and energy distribution capabilities. Construction works are already underway.
“Greece is one of the sunniest countries in Europe, making it an ideal location for solar energy projects that can drive both national and regional sustainability goals,” said Pete Christakis, Chief Operating Officer at Ameresco. “By leveraging advanced solar tracking technology in a region rich in sunlight, the Kozani project is set to play a significant role in fortifying Greece’s renewable energy infrastructure and supporting Europe’s broader green energy transition.”
“Projects like this reflect the growing maturity of the Greek renewable energy market, where scale, structure, and long-term stability are becoming increasingly important. As Ameresco SUNEL Energy, we are focused on supporting this shift by delivering projects that meet the evolving expectations of international investors,” said Konstantinos Zygouras, Vice President of Ameresco SUNEL.
“Ameresco SUNEL Energy SA has been a trusted partner in advancing our solar investment in Greece,” said Lorenz Hahn, Investment Manager at Luxcara. “This project shows how well‑targeted solar investments can support economic development while strengthening Greece’s clean energy infrastructure. By unlocking the region’s strong solar potential, we are helping build a more resilient, domestically powered energy future.”
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading energy infrastructure solutions provider dedicated to helping customers reduce costs, enhance resilience, and decarbonize to net zero in the global energy transition. Our comprehensive portfolio includes implementing smart energy efficiency solutions, upgrading aging infrastructure, and developing, constructing, and operating distributed energy resources. As a trusted full-service partner, Ameresco shows the way by reducing energy use and delivering energy infrastructure solutions to Federal, state and local governments, utilities, data centers, educational and healthcare institutions, housing authorities, and commercial and industrial customers. Headquartered in Framingham, MA, Ameresco has more than 1,500 employees providing local expertise in North America and Europe. For more information, visit www.ameresco.com.
About SUNEL Group
SUNEL Group is a leading provider of integrated and innovative solutions for renewable energy projects, specializing in Solar PV, Battery Energy Storage Systems (BESS), and energy efficiency. Headquartered in Athens, the company operates regional offices in London, Valencia, Milan, Bucharest and Tashkent, with a total workforce of over 400 employees, including highly experienced engineers. Since its establishment in 2006, SUNEL has successfully developed, designed, and executed more than 2 GW of solar projects worldwide. Currently, the company is executing 2+ GW of solar projects across Greece, the UK, Spain, Italy, Romania and Uzbekistan. For more information, visit www.sunelgroup.com.
About Luxcara
Luxcara is an independent asset manager offering equity and debt investment opportunities to international investors in the global energy-transition infrastructure market. The Hamburg-based company acquires, structures, finances and operates energy projects with a long-term buy-build-operate approach. Luxcara’s portfolio includes investments across several European countries and comprises wind and solar PV assets, battery storage systems, charging stations for electric vehicles, and electrolyzers for the production of green hydrogen. With a track record dating back to 2009 and a team of more than 80 energy specialists, Luxcara ranks among Europe’s most experienced asset managers in energy transition infrastructure.
The announcement of a customer project contract is not necessarily indicative of the timing or amount of revenue from such contract, of Ameresco’s overall revenue for any particular period or of trends in Ameresco’s overall total project backlog. This project was included in Ameresco’s previously reported contracted backlog as of December 31, 2025.
