The European Investment Bank is to provide €24m to Terna Energy to support realisation of a 44.4MW pair of wind farms in northern Greece.
The financing deal will fund development, construction and operation of the projects on Mount Vermio. Alpha Bank acted as co-lender.
A total of 36MW will feature at Eressou Ipsoma-Fourka while 8.4MW will be built at Lefkes-Kerasia.
A total of 22 turbines will be deployed in complex terrain at altitudes exceeding 1400 metres.
Cash is backed under the EU budget guarantee under the Investment Plan for Europe. Terna secured EIB cash last year for projects in Viotia.
“We have followed developments in the Greek energy sector and remain ready to step in to finance sound projects that meet our criteria and respond to EU energy policies,” said the bank.
Image: EIB
EIB climbs Greek mountain
By EBS