Greek oil and gas explorer Hellenic Petroleum has won “millions of dollars of investments” from European banks to “diversify its activities” into renewable energy.
The European Bank for Reconstruction & Development (EBRD) signed the first project under its new €300m ($348m) framework for renewable energy in Greece by subscribing to €28.3m in bonds issued by Hellenic.
The funds will support Hellenic in developing a pipeline of solar PV and wind projects with a combined capacity of 190MW across Greece.
