Athens, 1 March 2020 - Karatzas & Partners  advised the National Bank of Greece  on the financing of two (2) wind parks fully developed by Volterra S.A. , member of AVAX group, operated jointly by Volterra S.A. and PPC Renewables with a total capacity of 53.7 MW constructed in Viotia, by a special purpose vehicle. The project was initially funded through a bridge financing, of an amount of up to €15,300,000 and following that through a senior secured bond loan of an amount up to €46,148,000.

The successful completion of this project’s financing is another major step towards: 

a) Volterra’s strategic plan to implement and operate its RES portfolio of about 250MW in the next few years; 

b) PPC Renewables strategic plan to further strengthen its operating fleet; as well as c) the Greek government’s plan to have Greece’s RES share in the final gross consumption at 60% by 2030. 

The transaction has been approved by the Hellenic Competition Commission.