Greek PPC secured bond loan agreement for 87 MW wind and HPP projects

The PPC Renewables SA has signed a bond loan agreement worth of EUR17.5 million (US$20.2million) for the development of 87 MW of wind and hydropower plants (HPP) in Greece.

The parent company, PPC SA, will use the proceeds to fund the construction of six projects that includes new wind parks, several islands on the mainland, and for the rebuilding of 12 old small wind power facilities.

The National Bank of Greece provides 90% of the bond loan while 10% is taken from NBG Malta Ltd. The loan is complemented with debt financing from the European Investment Bank (EIB) worth of EUR85 million (US$95.6 million) which was signed last December 2018.