A significant solar energy initiative in northwestern Greece has received a substantial financial boost, enabling the construction of four solar power plants with a total capacity of 156 MW. The financing package, amounting to approximately 144 million euros, is structured on a non-recourse basis, which will facilitate the timely implementation of these projects.
The financing arrangement was facilitated by Eurobank, with legal guidance from Reed Smith. This funding is complemented by support from the European Union’s Recovery and Resilience Facility, underscoring the project’s alignment with broader EU energy transition goals. The capital raised will specifically fund several solar installations that are ready for immediate development in the regional units of Kozani and Grevena.
The development of this portfolio, known as the Clover portfolio, is spearheaded by Trifylli Iliaki, a subsidiary of Mirova, a French sustainable investment firm. Mirova acquired these projects from JUWI, a German renewable energy developer, last year. Despite the change in ownership, JUWI remains integral to the project through its Greek subsidiary, which is tasked with engineering, procurement, construction services, as well as overseeing the long-term operation and maintenance of the solar facilities.
Upon completion, these installations will cover an area of approximately 257 hectares and are projected to generate over 300 GWh of electricity annually. This output is anticipated to meet the energy needs of more than 75,000 households, significantly contributing to local energy supply and supporting Greece’s renewable energy targets.
