ECONOMY

Eurobank loans for RES plants

Eurobank loans for RES plants

Eurobank announced on Thursday that it has concluded three bond loan issues totaling 201.9 million euros, which will go toward financing three operating entities of Total Eren in Greece, representing a portfolio of 162.4 megawatts of wind and photovoltaic parks.

Eurobank Greece is participating in this financing with its subsidiaries in Cyprus and Luxembourg, contributing a total of 131.9 million, while Alpha Bank is contributing the other 70 million euros.

Founded in 2012 by Paris Mouratoglou and David Corchia, Total Eren has built up a substantial and diversified portfolio of wind, solar and hydroelectric assets representing an installed gross capacity of more than 1,300 MW in operation or under construction worldwide.

Its objective is to achieve a global net installed capacity of more than 3 gigawatts by 2022.

On December 1, 2017, French energy giant Total SA acquired an indirect 23 percent interest in Total Eren.