Pioneering financing framework agreement of up to €766 million between HELLENiQ ENERGY, National Bank of Greece S.A. and Eurobank S.A for Renewable Energy investments

HELLENiQ ENERGY, through its 100% subsidiary HELLENiQ Renewables, is pleased to announce the signing of a financing framework agreement of an amount of up to €766 million with National Bank of Greece S.A. - acting as Coordinator & Mandated Lead Arranger- and Eurobank S.A. - acting as Mandated Lead Arranger- for the implementation of multiple financing arrangements of existing and new projects (Project Finance), for electricity generation from Renewable Energy Sources - RES (photovoltaic and wind parks).

The agreement constitutes a benchmark and innovative transaction for the Greek market, being the first standardized financing framework ever concluded by a Greek Corporate group for existing and future RES transactions, as well as one of the largest respective financing arrangements in Europe and a flagship RES financing agreement in Greece.

The framework agreement sets a unified perimeter of common financing terms for projects that qualify pre-agreed eligibility criteria, covering existing as well as new projects of HELLENiQ ENERGY Group to be implemented in Greece, in various development stages. The generated electricity will be sold through contracts of a wide range of structures (e.g., Feed-in Premium, Feed-in Tariff and/or Corporate Power Purchase Agreements).

The framework agreement underlines the commitment of the parties to improve their environmental footprint, as well as their focus on providing financings that support sustainable growth and the reduction of GHG emissions.

The key benefits of the framework agreement for HELLENIQ ENERGY include: (a) significant funding capacity, increasing the Group’s growth potential, (b) best-in-class terms, largely standardized, enabling speed of execution, (c) Flexible structure, fit-for-purpose for RES, allowing the release of resources to support the rest of the Group’s activities. The financing framework agreement is a key milestone towards the “green” transformation of HELLENiQ ENERGY, contributing substantially to the implementation of its strategic goal of developing a renewable energy portfolio of at least 1 GW by 2025 and more than 2 GW by 2030.

In his statement, the CFO of HELLENIQ ENERGY, Mr. Vasilis Tsaitas, noted: “The framework agreement we signed today, is a key step for HELLENiQ Renewables as it will significantly contribute towards the implementation of our strategy for accelerated growth in New Energy and the achievement of our environmental footprint improvement targets. Furthermore, it highlights our commitment to lead the energy transition, while supporting the national effort to meet climate targets. In partnership with NBG and Eurobank, we implemented a financing solution, with very attractive terms, fully aligned with our strategy, considering the most recent developments in the industry business model. The transaction is particularly innovative for the Greek market and at the same time one of the largest long-term financing agreements for RES in Europe.”

NBG’s Head of Corporate and Investment Banking, Vassilis Karamouzis, stated: “The country's energy sector is undergoing radical transformation, with NBG sustaining its pivotal role. We have traditionally pioneered the Greek RES sector, identifying cutting-edge financing solutions, capable to address holistically the evolving needs of our clients. We are honored that HELLENiQ Renewables, a subsidiary of a leading energy group of the country, has entrusted NBG’s specialized Structured Financing unit for structuring and coordinating a strategic transaction, critical for the group’s corporate transformation in line with new environmental standards. In collaboration with Eurobank, we have concluded a milestone financing framework agreement by both Greek and European standards, which will serve as a catalyst for the upgrade of our country’s energy mix.”

Deputy CEO and Head of Corporate & Investment Banking at Eurobank, Konstantinos Vassiliou, stated: “The signing of this important agreement strengthens HELLENiQ Renewables’ strong presence in the area of Renewable Energy Sources and further reduces the carbon footprint of the HELLENiQ ENERGY Group, through the diversification of its energy sources portfolio. At Eurobank, we are very proud of contributing to the sustainable transformation of the Group, by securing the necessary funding for the implementation of its strategy, while at the same time we recognize its positive impact on the energy transition of the Greek economy and the country’s goal of achieving energy autonomy. We are honored to support pioneering companies which contribute to the green transition of the country, and I would personally like to congratulate every individual who contributed to the successful implementation of this transaction.”