HelleniQ Energy announces financing deal of up to 766 mln€ with NBG, Eurobank for RES investments

HelleniQ Energy, formerly Hellenic Petroleum (Hel.Pe), on Thursday announced an up to 766-million-euro project financing framework with Greek lenders National Bank of Greece (NBG) and Eurobank towards funding power generation from renewable energy sources, mainly photovoltaic and wind parks.

The agreement was signed by HelleniQ’s fully owned subsidiary, HelleniQ Renewables.

According to a press release by the Greece-based and partially state-owned petrochemical and refinery conglomerate, National Bank of Greece were serve as coordinator and mandated lead arranger, while Eurobank will serve as the mandated lead arranger for “…implementation of multiple financing arrangements of existing and new projects.”

According to HelleniQ, “…the agreement constitutes a benchmark and innovative transaction for the Greek market, being the first standardized financing framework ever concluded by a Greek Corporate group for existing and future RES transactions, as well as one of the largest respective financing arrangements in Europe and a flagship RES financing agreement in Greece.”