BSTDB finances Greek investment in renewable energy

Press Release | 10-Apr-2012

The Black Sea Trade and Development Bank (BSTDB) provided a EUR 6 million loan to Terna Energy S.A. Commercial Technical Company (Greece) to develop the wind energy production.  The 8-year loan will finance a part of the Company’s capital expenditures related to four wind parks in Greece with a total operating capacity of 55 MW.

In line with the Bank’s strategy for Greece, the project supports the diversification of power supply and will increase the power production from renewable energy sources. The Operation will also contribute to the reduction of greenhouse gas emissions leading to long-term environmental benefits.

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Terna Energy S.A. is the parent company of Terna Energy Group, primarily involved in the development, construction, ownership and operation of Renewable Energy installations. The company is a leader in the field of Renewable Energy Sources in Greece. Terna Energy Group is expanding its activities in Europe and in North America by developing and constructing renewable energy projects.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters is in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is SDR 3 billion (appx. EUR 3.3 billion). BSTDB is rated long-term A by Standard and Poor’s and A3 by Moody’s.