Europe offers Greek gifts
EIB loans €24m to help develop three wind farms totalling 49MW
The European Investment Bank (EIB) has signed a €24m financing agreement with Terna Energy Group to help fund three wind farms totalling 48.6MW in Greece.
The projects, which will be located in Viotia in central Greece, will comprise 18 turbines split across three sites – eight in one location and five each at the other two wind farms.
They are expected to generate more than 120 gigawatt-hours of electricity a year.
Eurobank Ergasias acted as a co-lender, while the EIB loan benefits from the support of the EU budget guarantee under the European Fund for Strategic Investments, the financial instrument of the Investment Plan for Europe.
EIB vice-president responsible for lending in Greece Jonathan Taylor said: “This is precisely the kind of operation the Investment Plan for Europe was designed to support. I am delighted about this further step to bring the benefits of the European Fund for Strategic Investments to Greece.
“Looking ahead, the EIB is following developments in the Greek electricity sector and stands ready to finance sound projects that fulfil its criteria and EU energy policies.”