Mirova, Foresight Secure Greek Solar Project Financing

• Alpha Bank powers Greece's solar future with EUR 316M financing for Foresight and Mirova's 267 MW solar parks, marking a green milestone.

Greek lender Alpha Bank will provide debt financing for the construction of four solar parks in Greece, totaling 267 MW, by investment fund managers Foresight and Mirova. The financing includes a portion from Greece’s Recovery and Resilience Facility (RRF). Alpha Bank is the exclusive coordinator, lead arranger, and lender, having signed a loan agreement with Consortium Solar Power Systems SA, a joint venture of Foresight Energy Infrastructure Partners 1 Sarl and Mirova Energy Transition 5.

The solar projects will be located in Farsala and Fthiotida, Thessaly, with an estimated construction cost of EUR 316 million. Funding will comprise EUR 109 million from the RRF, EUR 145 million from a bank loan, and EUR 73 million from equity capital. This marks the first greenfield project in Greece for Foresight and Mirova.

How is Alpha Bank financing Greece's new solar parks with Foresight and Mirova?

• Alpha Bank is acting as the exclusive coordinator, lead arranger, and lender for the financing of the solar parks.
  
• The financing structure includes a significant portion from Greece's Recovery and Resilience Facility (RRF), which aims to support sustainable projects.
• The total estimated construction cost for the solar parks is EUR 316 million.
• The funding breakdown includes EUR 109 million from the RRF, EUR 145 million from a bank loan, and EUR 73 million from equity capital.
• The solar parks will be located in the regions of Farsala and Fthiotida in Thessaly, Greece.
• This project represents the first greenfield investment in Greece for both Foresight and Mirova.
• The involvement of Foresight Energy Infrastructure Partners 1 Sarl and Mirova Energy Transition 5 is through a joint venture named Consortium Solar Power Systems SA.
• The project aligns with Greece's goals to increase renewable energy capacity and reduce carbon emissions.
• Alpha Bank's role underscores its commitment to supporting Greece's transition to renewable energy sources.
• The solar parks are expected to contribute significantly to the local economy and job creation during the construction phase.