Terna Energy (EBRD-48272)

Countries
  • Greece
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 21, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Terna Energy SA
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 55.82 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 50,000,000.00
Converted using 2016-09-21 exchange rate.
Project Cost (USD)
$ 66.98 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 60,000,000.00
Converted using 2016-09-21 exchange rate.
Bank Documents
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 10, 2017

Disclosed by Bank May 26, 2016


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Project Description
This project finances the development, construction and operation of Terna Energy's renewable energy power plants in Greece
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Terna Energy SA is a company incorporated in Greece, owned by GEK Terna Group, Terna Energy's chairman George Peristeris, and a subsidiary of the American hedge fund York Capital. It is one of the largest renewable energy companies active in Greece. It directly owns and operates 110 MW of renewable energy projects and another 557 MW are indirectly owned by the borrower through special purpose vehicles located in Greece, Bulgaria, Poland and the USA.
Contact Information
Telis Spiliotis info@terna-energy.com +30 210 6968300 +30 210 6968096 www.terna-energy.com TERNA ENERGY S.A. 85, Mesogeion Ave. 11526 Athens, Greece ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD’s own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.