Signature of a bond loan for solar projects in Greece
Piraeus Bank SA and National Energy Holdings Limited are pleased to announce the signing of a bond loan facility of approximately 22 million euros to finance the construction of five solar photovoltaic projects in Greece with a total generation capacity of 24 MWp.
The projects are located in central Greece and will produce enough electricity to power the electricity consumption of around 10,000 homes and also reduce around 23,000 t of CO2 emissions to the environment for each year of operation. All sites have obtained a 20-year fixed rate, awarded through the operating aid auction conducted by the Greek Energy Regulatory Authority (RAE) in July 2019.
Currently, projects are under construction and power-up is expected to occur within the next six months for all projects.
The projects are all owned by the Greek subsidiary of National Energy, New NE Solar Developments One 1 Single Member SA (NNESD1).
National Energy was supported by KLC Law Firm and TUV Hellas in this transaction.
Giles Clark, CIO, National Energy, said: “We are very pleased to have worked with Piraeus Bank to finalize the financing of our first five solar PV projects in Greece. Obtaining long term financing from a large institutional lender such as Piraeus Bank is a strong endorsement of the quality of these sites and our business arrangements.
Read the article online at: https://www.energyglobal.com/solar/13112020/bond-loan-facility-signed-for-solar-projects-in-greece/
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