Zepos & Yannopoulos acted as legal counsel to Consortium Solar Power Systems SA, a joint venture between Foresight Group, a global leading investment manager and Mirova, a global asset management firm dedicated to sustainable investment, in relation to a landmark €253.5 million limited recourse financing for a major renewable energy project in Greece which has been conferred the status of Strategic Investment.
The financing will be used to partially finance the construction and operation needs of six photovoltaic parks in the areas of Sterea Ellada and Thessalia, with an aggregate production capacity of 267MW. The budget of the project is estimated at €316 million.
Alpha Bank acted as Mandated Lead Arranger, Account Bank, Facility Agent and Bondholder, whilst the financing comprised funds under the EU Recovery and Resilience Fund (RRF).
Our team was led by Paris Tzoumas, head of Finance, assisted by Dimitris Mekakas, associate. Nikos Koukos, senior associate, advised on project documents matters, whilst Mary Georgiou, partner, and Marina Savvidi, associate, advised on real estate matters pertaining to the financing. Marilisa Myrat, partner, assisted by Iasonas Barelier and Elena Hatzidaki, associates, advised on corporate law aspects of the transaction, including the corporate structuring and implementation, intragroup financing and corporate transformation in the form of a merger. Diana Tsourapa, partner, advised on the tax aspects of the transaction with Panagiotis Stamatogiannis, partner, advising the sponsors on transfer pricing issues.
