Mytilineos RepowerEU Framework Loan

The present operation concerns the deployment of renewable energy (solar PV) and energy storage (battery energy storage) in selected countries in the EU, primarily in Greece and Italy. The promoter is Mytilineos S.A., a Greek company operating in the Metals and Energy Sectors. The present operation seeks to increase the renewable power production and energy storage capacity of the Promoter, both in Greece and other EU countries. The projects in Greece in particular will supply renewable energy to the Promoter’s aluminium plant, decreasing its carbon footprint. Excess energy generation from the PV plants will be sold to third parties, increasing the market share of the Promoter in the Greek electrical energy market. Projects in Italy will enable the entry of the Promoter in the Italian electrical energy market. Projects in other countries will be held or will be considered to be sold to third parties after implementation, supporting the build-and-exit business line of the Promoter. Overall, the present operation contributes in transforming the promoter in an international independent power producer. The operation contributes to the EU-wide target of 32% of energy from Renewable Energy Sources (“RES”) in gross final energy consumption for 2030 as set out in the current EU RE Directive (Directive (EU) 2018/2001). It will also contribute to achieving the REPowerEU objectives which aim at increasing the RES 2030 target from 32% to 42.5%. It will further contribute to the national renewable energy targets laid out in the National Energy and Climate Plans (“NECP”) of the targeted countries.

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Mytilineos RepowerEU Framework Loan

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