The European Bank for Reconstruction and Development (EBRD) and Piraeus Bank have agreed to provide financial support for Terna Energy’s renewable projects in Greece.

Terna will receive €50m from the EBRD and €10m in parallel financing from Piraeus Bank. These funds will be used towards the development, construction, and operation of the company’s renewable energy projects, including the improvement of 48MW windfarms in Central Greece.

"We hope that this investment will lay the groundwork for a deeper involvement in the Greek electricity market."

EBRD's power and energy director Nandita Parshad said: “This transaction is not only our first investment in the Greek electricity sector, it also marks the transition to a new market-based scheme for renewable energy, which helps deliver clean energy to end-users at a lower price.

“We are very pleased to support Terna Energy’s wind projects alongside Piraeus Bank and we hope that this investment will lay the groundwork for a deeper involvement in the Greek electricity market.”

Terna Energy has a broad portfolio, which includes windfarms, small hydroelectric plants, and waste-to-energy units with a total operational capacity of 738MW. It intends to enhance its operational capacity to 1,000MW in the coming years.


Image: EBRD and Piraeus Bank support Terna Energy's renewable portfolio. Photo: courtesy of European Bank for Reconstruction and Development.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.