Norton Rose Fulbright has advised Alpha Bank on the EUR 33.7 million non-recourse financing of a 33.3MW onshore wind power project developed by Goritsa Aiolos Energy S.A., a company of Eren Groupe, in Viotia, Greece. Watson Farley & Williams advised Goritsa Energy on the financing.
The funds are allocated for the engineering, procurement, construction, commissioning, operation, maintenance, and exploitation of the Goritsa Wind Farm, located in Viotia, Greece. The project will have a total installed capacity of 33.3 MW and a maximum generating capacity of 33 MW, consisting of 13 Vestas wind turbine generators. The project is expected to be operational in October 2017.
The Norton Rose Fulbright team was led by Partner Dimitris Assimakis, who explained that "this project marks Alpha Bank’s strong commitment in the Greek renewables energy sector but also Eren Groupe’s dynamic presence in the Greek wind power market. In the last ten years Greece experienced a threefold increase in installed wind capacity and there is clearly an ongoing appetite in onshore wind and renewables more generally. The continued investment into these renewable projects are all required if Greece is to meets its 2020 national targets for renewables and give a much-needed boost to national economy.”
Assimakis was assisted by Norton Rose Fulbright Of Counsel Dimitris Rampos, Senior Associates Minas Kitsilis and Alexandros Pavlopoulos, and Associate Spyros Kokkaliaris.
The Watson Farley & Williams team consisted of Partner Marisetta Marcopoulou and Associates Matina Kanellopoulou and Valina Giouzelaki.