The EBRD on Wednesday signed an inaugural project under its new framework for renewable energy in Greece by subscribing to €28.3 million in bonds issued by Hellenic Petroleum, Greece’s biggest petro-chemical conglomerate.
The latter aims to fund a diversification of its activities into the area of RESs.
According to an EBRD press release, the funding will support the refinery and retail operator’s photovoltaic and wind projects, projected to have a combined capacity of 190 MW.
The total volume of the bond issuance was €450 million in two tranches, with the EBRD subscribing to the second tranche of €74.5 million alongside the Black Sea Trade and Development Bank and other selected institutional investors.
