A subsidiary of Greek developer Terna Energy has secured €117m refinancing for the over 73MW Agios Georgios wind farm near Athens in Greece.
Law firm Norton Rose Fulbright advised Alpha Bank, Eurobank Ergasias and National Bank of Greece on the non-recourse refinancing.
Agios Georgios is located on the uninhabited islet of Agios Georgios offshore Attica in the Athens metropolitan area.
Norton Rose Fulbright greek energy practice head Dimitris Assimakis said: “We are excited to have advised Alpha Bank, Eurobank Ergasias and National Bank of Greece on the refinancing of the largest wind farm in the country and especially, after our initial advice to same lenders back in 2016 on the financing for the construction of this landmark project.
“This transaction demonstrates banks’ strong dedication to the wind power sector, Terna Energy’s market-leading position and ability to implement and operate complex projects like this and the continuous improving conditions of the banking sector and overall economy in Greece.”
Meanwhile, the law firm also advised Sonnedix on €201.6m non-recourse refinancing of solar plants in Italy.
The syndicate of banks providing the financing includes ING Bank, MedioCredito Italiano, Natixis and Santander, acting as lender and mandated lead arranger, Banca IMI as agent, and Intesa Sanpaolo as account bank.
The finance included a debt service reserve facility and long-term facility, which has been partially disbursed for the refinancing of 41 solar plants, with an installed capacity of 61.8MW.