Faria secures financing for 49.9 MW battery project in Greece

Greece’s Faria Renewables has signed a loan agreement with Attica Bank for the financing of the construction of a BESS with a nominal capacity of 49.9 MW and an energy storage capacity of 134.16 MWh. It will be connected to a 150/20 kV high-voltage substation currently under construction, Faria said in a media release. 

The project is worth 28 million euros. Completion of construction is expected in the third quarter of 2025. 

The project is being implemented under the National Recovery and Resilience Plan “Greece 2.0” with funding from the European Union – NextGenerationEU. It falls under the pillars of “Green Transition” and “Digital Transformation” of the “Greece 2.0” plan, the media release said.

“Our collaboration with Attica Bank for the implementation of this significant energy storage project marks another crucial step in delivering sustainable energy solutions that support the country’s energy transition goals,” Thalia Valkouma, Chair and CEO of FARIA Renewables, said. “We share a common vision to contribute to a greener society by designing and carrying out energy solutions that combine expertise, sustainability, and innovation. This project is not just a major investment, rather another key milestone in the green future we are building with consistency and responsibility.”

“Attica Bank remains strategically committed to supporting the green transition and energy security of the country by financing projects that enhance the transformation and resilience of the energy system,” Christos Iliopoulos, Chief of Asset and Specialized Financing at Attica Bank, said. “The financing of the BESS installation with 49.9 MW of capacity and 134.16 MWh of storage, constitutes one of the largest investments in the energy storage sector in Greece.”