Bernitsas acted as legal counsel to Elzet Solar Single Member Société Anonyme (Elzet) and its direct and indirect shareholders, Greenvolt International Power S.A. and Greenvolt-Energias Renováveis S.A, on a landmark RES project financing arranged by Alpha Bank and Eurobank. The transaction involves a multi-tranched, long-term, secured bond loan facility to finance the full lifecycle (development, construction, ownership, operation and maintenance) of a 200MW photovoltaic park developed by Elzet in Thessaly, Greece.
The project is one of the largest solar energy projects currently under development in Greece.
The financing draws on funds from the Recovery and Resilience Facility (RRF) under Greece 2.0's Green Transition pillar, forming a key component of the country's green transition agenda and the transformation of the renewable energy landscape in Greece.
Elzet Solar Single Member Société Anonyme is a subsidiary of Greenvolt International Power S.A. and a member of the group of Greenvolt-Energias Renováveis, S.A. (Greenvolt Group), a leading European renewable energy group headquartered in Lisbon, Portugal and with securities traded on Euronext Lisbon.
Greenvolt Group operates across multiple European markets; its utility-scale portfolio encompasses wind and solar assets at various stages of development, construction, and operation, while its distributed generation arm is one of Europe's largest platforms for decentralized solar energy solutions serving commercial and industrial clients.
Partner Athanasia Tsene and Senior Associate Sildia Fotopoulou advised on this transaction.
