Reed Smith has advised Phoebe Energy on securing non-recourse financing of EUR 341.4 million from Eurobank and Piraeus Bank for a 550-megawatt photovoltaic project in Ptolemaida, Western Macedonia, Greece.
Phoebe Energy is a wholly-owned subsidiary of PPC Renewables.
According to Reed Smith, supported by Eurobank and Piraeus Bank and partially funded through the Recovery and Resilience Facility, the project repurposes decommissioned lignite mines and will generate approximately 1 terawatt-hour of electricity – enough to power 200,000 households.
In 2024, Reed Smith advised on PPC Renewables' EUR 294.4 million PV project financing (as reported by CEE Legal Matters on March 14, 2014).
The Reed Smith team included Partner Dimitris Assimakis, Counsel Minas Kitsilis, Senior Associate George Fountas, and Associate Zissis Papazissis.
Reed Smith did not respond to our inquiry on the matter.
