Follow Greece Investment Immigration, follow Greece's Economy: Italian power company Enel and the Greek Copelouzos Group will invest in the construction of Greece's largest wind farm on the island of Evia.
The official Greek investment promotion agency stated that the project financing agreement has been reached and construction is expected to begin soon.
Local media revealed that Enel and the Copelouzos Group secured bank loans with guarantees from the Paris-based credit insurance company Euler Hermes.
Recently, Francesco Starace, head of Enel Green Power, stated that Enel is optimistic about the Greek market and the company will continue to invest in Greece. Despite the current difficult fiscal situation in Greece, Enel's international reputation has enabled it to obtain support from international credit insurance companies, thereby securing bank loans.
The Regulatory Authority for Energy (RAE) of Greece responded to the media, stating that RAE has approved this wind power project and all relevant permits have been passed. In terms of licensing, the project is ready to proceed.
An Enel spokesperson declined to disclose any information regarding the project, but confirmed that Enel's installed capacity in Greece has reached 289 megawatts, of which 199 megawatts are from wind power.
Evia is located in the Aegean Sea, close to the Greek mainland, and is the second most populous island after Crete.