China Development Bank provides a loan for the 115.9 MW Photovoltaic Power Plants Project

Project narrative

In 2012, China Development Bank (CDB) provided a loan to an unspecified borrower for the 115.9 MW Photovoltaic Power Plant Projects in Greece. Further loan details are unknown. This project had a total investment of €250 million EUR and sought to construct a series of solar power stations – to be the largest power station group in Europe – with a total capacity of 115.9 MW and an annual power generation capacity of 180 million kWH. The project included the construction of 87 solar photovoltaic power plants in 39 regions distributed in 39 regions in a distributed energy power generation mode. Each station had a capacity not exceeding 500 kW and supplied the nearest power grid. The construction sites included Ilia near Olympia, Viotia and Attiki near Athens, and Macedonia. The projected revenue from the project was €72 million EUR annually and €1.8 billion EUR over the 25 years of the project China's National Development and Reform Commission (NDRC) approved the overseas investment in the Greek photovoltaic solar plants on October 8, 2012. Then, on October 13, 2012, PowerChina Hebei Electric Power Survey, Design and Research Institute Co., Ltd. (Chinese: 河北省电力勘测设计研究院), PowerChina Hebei Electric Power Engineering Co., Ltd (Chinese: 湖北宏源电力工程股份有限), and Winsun New Energy Co., Ltd.'s Luxembourg subsidiary signed the engineering, procurement, and construction (EPC) for the project. These companies worked in consortium for the EPC and were responsible for project implementation. Construction had started by December 3, 2012. The project was expected to be completed by the end of December and connected to the grid by the end of January 2013. On February 4, 2013, the first batch of project sites, including the four station MWp 7.902 MW Solar Viotia Project and the 18 station MWp 8.667 Ereda Project stations near Athens, were connected to the grid.