KG Law Firm Advises on Financing of Wind Farms in Greece

KG Law Firm Advises on Financing of Wind Farms in Greece

Kyriakides Georgopoulos Law Firm acted as a joint Greek legal advisor to European Investment Bank and to Alpha Bank A.E. on financing of two wind parks in northern Greece.

The financing was structured on a limited recourse project finance basis by means of a long-term facility in the form of a hybrid bond loan governed by the Greek Bond Law No. 3156/2003 and German law, along with relevant Greek law security documents for each Project Company. The European Investment Bank’s loan is backed by the EU budget guarantee of the European Fund for Strategic Investments, the financial instrument of the Investment Plan for Europe.

The two wind parks will have a combined operating capacity of 44.4 MW, divided between Eressou Ipsoma-Fourka (operating capacity 36 MW) and Lefkes-Kerasia (operating capacity of 8.4 MW). Combined, they will host 22 wind turbines installed on complex high altitude terrain (exceeding 1.400 m) and will be connected to the transmission grid via a new MV/HV Substation and respectively 8.5 km and 16 km of MV underground cable.

This is one of the six ongoing renewable energy sources projects that the finance team of the SEE Legal’s Greek member is currently involved in.

The team working on this highly demanding project was led by Partners Ioanna Antonopoulou and Elisabeth Eleftheriades.

Kyriakides Georgopoulos Law Firm acted as a joint Greek legal advisor to European Investment Bank and to Alpha Bank A.E. on financing of two wind parks in northern Greece.

The financing was structured on a limited recourse project finance basis by means of a long-term facility in the form of a hybrid bond loan governed by the Greek Bond Law No. 3156/2003 and German law, along with relevant Greek law security documents for each Project Company. The European Investment Bank’s loan is backed by the EU budget guarantee of the European Fund for Strategic Investments, the financial instrument of the Investment Plan for Europe.

The two wind parks will have a combined operating capacity of 44.4 MW, divided between Eressou Ipsoma-Fourka (operating capacity 36 MW) and Lefkes-Kerasia (operating capacity of 8.4 MW). Combined, they will host 22 wind turbines installed on complex high altitude terrain (exceeding 1.400 m) and will be connected to the transmission grid via a new MV/HV Substation and respectively 8.5 km and 16 km of MV underground cable.

This is one of the six ongoing renewable energy sources projects that the finance team of the SEE Legal’s Greek member is currently involved in.

The team working on this highly demanding project was led by Partners Ioanna Antonopoulou and Elisabeth Eleftheriades.