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Enexon Hellas SA

Greece | Utilities

Identification Code:: OP/11/0847
Total Operation Cost:: 140.000.000 EUR
Maturity:: 180 months
Operation Status:: BSTDB Approved Amount – Approval Date

38.000.000 EUR – 10 Feb 2012
: BSTDB Signed Amount – Signed Date

N/A – N/A
: Status:
Cancelled
Description and Purpose of the Operation:: —
Countries of Operation:: Greece (100,00%)
Financial Product:: Loans
Sector:: Utilities
Domain:: Private
Borrower/Client:: Enexon Hellas S.A (Enexon, Company or Borrower) is a special purpose vehicle set up to finance the construction and operation of the photovoltaic plants in Greece. The management of the Borrower consists of individuals with strong financial background and experience in the development of photovoltaic parks in Greece. It currently operates one of the Greece’s largest PV plants of 5MW in Thessaly.
Co-Financers/Participants:: —
Guarantors/Sponsors:: —
Developmental and Regional Cooperation Impact:: The Operation will contribute to expansion and further development of renewable energy market in Greece and will support the country in achieving its target of sourcing 20% of its electricity consumed from renewable sources by 2020. The Operation will also facilitate the mobilization of funding outside of the Black Sea region and if completed, can be considered as a first case of successful cooperation between BSTDB and EIB. The Bank’s additionality is particularly relevant in the context of the challenging economic conditions in Greece, which have effectively shut down capital markets for local companies. Under the circumstances the Bank’s ability to support the Project through the proposed financing is considered crucial to the development of the renewable energy sector in Greece and the long-term success of the Company.
Environmental Classification and Impact:: ..............
Operation Leader:: Energy & Infrastructure
E-mail:: ei@bstdb.org