Karatzas & Partners advised the issue of a secure Bond Loan by the 100% subs. of PPCR S.A.

Athens, 16 April 2021 - Karatzas & Partners acted as legal advisor to National Bank of Greece S.A and Eurobank S.A, in connection with a secured bond issuance of up to € 8,730,000 million, issued by the 100% subsidiary of PPC Renewables – ΔΕΗ Ανανεώσιμες, namely SOLAR PARKS WESTERN MACEDONIA ONE SINGLE-MEMBER SOCIÉTÉ ANONYME for the construction of a 15MW photovoltaic park in Kozani, Greece. This financing is part of a wider funding cluster to be provided for the construction of a portfolio of photovoltaic parks with a total installed capacity of 230 MW in Kozani area, that will be also backed up by the European Investment Bank (EIB).

This investment is a step towards the phasing out of the coal-fired power plants of PPC S.A. by 2028, as reflected in Greece’s National Plan for Energy and Climate, aiming among others, to contribute to Greece’s green recovery and reduce its carbon footprint to meet the European Union climate targets by 2050.