Greece to expand renewables portfolio with five new solar projects

• London-based renewable energy financing organization National Energy Holdings Limited has partnered with Piraeus Bank SA to help Greece to expand its profile of tidy energy resources.

Both organizations have authorized a Bond Loan facility of circa EUR22 million ($ 25.9 million) to fund the construction of five solar PV projects.

The projects will have an overall generating ability of 24MWp, sufficient power to power 10,000 residences.

The projects are located in central Greece and will certainly also minimize ca. 23,000 tons of CO2 from the discharges to the environment for each and every year of operation.

The 5 projects have actually secured a 20-year fixed tariff, awarded via the functional help public auction carried out by the Greek Regulatory Authority of Energy (RAE) in July 2019.

The projects are presently unfinished, will certainly be operational in the next six months and also will certainly be possessed by National Energy's Greek subsidiary New NE Solar Developments One 1 Single Member SA (NNESD1).

National Energy was sustained by KLC Law Firm and TUV Hellas in this purchase.

Giles Clark, CIO, National Energy, says: "We are very happy to have actually worked with Piraeus Bank to complete the funding of our first 5 (5) solar PV projects in Greece. Securing lasting financing from a major institutional lending institution such as Piraeus Bank is a solid endorsement of the high quality of these websites, and of our business plans."