Norton Rose Fulbright has advised Alpha Bank on the €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.
 
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 was led by partner Dimitris Assimakis with assistance from of counsel Dimitris Rampos, senior associates Minas Kitsilis, Alexandros Pavlopoulos and associate Spyros Kokkaliaris.
 
Dimitris Assimakis, Norton Rose Fulbright commented:
 
“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.”