PPC S.A announces that Iliaka Parka Dytikis Makedonias 1 S.A., a 100% subsidiary of PPC Renewables S.A., signed on 8.4.2021 a € 8.7m loan agreement in the form of a Greek bond loan related to the construction of a 15MW PV park in Ptolemaida, a prefecture in Kozani, a region in Northern Greece. This tranche is part of a broader financing arrangement to construct a PV portfolio of 230 MW total installed capacity in this area.
Within the context of the financing, National Bank of Greece S.A. and Eurobank S.A. are acting as Bondholders, while the European Investment Bank has been provided the right to also participate in the financing scheme for the total portfolio of 230MW.
The non-recourse project finance structure confirms PPC Renewables SA focus on the execution of PPC Group capex plan with a target to reach installed capacity of 1.5 GW by 2023. PPC Renewables S.A. is a 100% subsidiary of PPC S.A.
Athens, April 9, 2021
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