PPC S.A announces that its 100% subsidiary PPC Renewables S.A., signed today a secured bond loan agreement amounting to € 17.5 m. The bond loan will be covered by 90% by the National Bank of Greece and by 10% by NBG Malta Ltd. This loan is supplementary to the loan amounting to € 85 m. that PPC Renewables has signed with the European Investment Bank for the financing of 18 RES projects (wind and hydro) with a total capacity of 87 MW. Out of these projects 12 are being totally reconstructed while the other 6 are new projects.
The above mentioned funding promotes the implementation of PPC Group capex plan aiming at the increase of electricity generated from RES.
Following the completion of the above mentioned projects, PPC Group will have increased its installed capacity in RES by 37% until the end of 2019.
Athens, September 27, 2018