As stated by the bank in its announcement, the project is part of the "Green Transition" pillar of the Recovery and Resilience Fund (RRF). With a total budget of €316 million, the project will be funded through a €109 million loan from the Recovery and Resilience Fund and a €145 million bank loan.
The remaining budget of the investment plan, amounting to €73 million, will be covered by equity capital. The signing ceremony of the loan agreement took place at Alpha Bank's headquarters, in the presence of Evi Zacharia, Head of the General Directorate of Loan Support of the RRF, Nikos Nezeritis, Chief of Corporate and Investment Banking at Alpha Bank, Diomedes Dorkofikis, Partner at Foresight Group, and Eleni Dimitrakopoulou, Managing Director of Energy Transition Investment Funds at Mirova.
Nikos Nezeritis, Chief of Corporate and Investment Banking at Alpha Bank, commented on the investment: "As the exclusive arranger of the project, we are proud to welcome top international investors to Greece to contribute to the transition to a zero-emission economy. The support of banks in such projects, in collaboration with the RRF, reaffirms our commitment to financing sustainable investment plans as a core pillar of our strategy."
Eleni Dimitrakopoulou, Managing Director of Energy Transition Investments at Mirova, said: "We are privileged to collaborate with Alpha Bank for Mirova's third investment in Greece. This significant project will accelerate the country’s path to a greener future, while also demonstrating Mirova's long-term commitment to the European energy transition and perfectly aligning with the mission of our investment fund, which is to enable institutional investors to contribute to addressing climate change."
Diomedes Dorkofikis, Partner at Foresight Group, said: "We are proud to collaborate with Alpha Bank to contribute to Greece's energy transition through this landmark project. The development of these photovoltaic parks reflects Foresight’s long-term commitment to accelerating the development of renewable energy infrastructure across Europe. This investment not only directly supports Greece’s sustainability goals—specifically, its ambition to gradually phase out coal-fired power generation by 2028—but also aligns with our mission to achieve a positive environmental and economic impact with long-term durability.
