Renewables

Terna Energy secures refinancing for largest Greek wind farm 

Terna Energy

Photo: Aghios Georgios wind farm (Terna Energy)

Published

August 5, 2019

Country

Comments

0

Share

Published:

August 5, 2019

Country:

Comments:

0

Share

Alpha Bank, Eurobank Ergasias and National Bank of Greece have provided EUR 117 million in non-recourse refinancing for the 73.2 MW Aghios Georgios wind farm operated by a subsidiary of Terna Energy, global law firm Norton Rose Fulbright has said in a press release.

The wind farm owned by Terna Energy is located on the uninhabited islet of Aghios Georgios offshore Attica in the Athens metropolitan area is the largest to date in the country and the only one connected through a subsea cable, approximately 36 km in length, to the mainland grid.

Dimitris Assimakis, who leads the Greek energy practice and led on the deal, said that the law firm has advised Alpha Bank, Eurobank Ergasias and National Bank of Greece on the refinancing of the largest wind farm in the country. Norton Rose Fulbright also advised these banks back in 2016 on the financing for the construction of this landmark project.

Terna Energy, a member of GEK TERNA Group, operates with 1,032 MW renewable energy power plants

“This transaction demonstrates banks’ strong dedication to the wind power sector, Terna Energy’s market-leading position and ability to implement and operate complex projects like this and the continuous improving conditions of the banking sector and overall economy in Greece,” Assimakis said.

In July 2018, the company secured financing for the construction of two 44 MW wind farms on Mt. Vermio in northern Greece.

Aghios Georgios generates 220,000 MWh of electricity annually on average

Terna Energy, a member of GEK TERNA Group, operates with 1,032 MW renewable energy power plants including 1,003 MW in wind farms.

The Aghios Georgios wind farm is the first onshore wind farm with offshore characteristics, the company said in its video representing the project, adding that the average annual generation of electricity is 220,000 MWh.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Finnish startup Cactos retrofitting old Tesla batteries other energy storage uses

Finnish startup retrofitting old Tesla batteries for other energy storage uses

01 December 2022 - Cactos from Finland gives alternative purposes to second-life electric vehicle batteries, with the help of its cloud-based software

INA intends to produce green hydrogen at Rijeka oil refinery

INA intends to produce green hydrogen at Rijeka oil refinery

30 November 2022 - The green hydrogen will be used to supply the transport sector in Croatia and for the refinery’s own consumption

Turkey new energy storage regulation to spur unseen investment boom

Turkey’s new energy storage regulation to spur unseen investment boom

30 November 2022 - EMRA Chair Mustafa Yılmaz said applications came in for storage in combination with renewables with a stunning 67.3 GW in total capacity

Greece remains world most attractive renewable energy markets RECAI

Greece remains among world’s most attractive renewable energy markets

29 November 2022 - EY kept Greece and Turkey in its Renewable Energy Country Attractiveness Index of 40 countries. In another ranking, Greece is second in the world!