Zepos & Yannopoulos advises V GROUP in connection with the execution of one of the first non-vertical PPAs of the Greek market

Zepos & Yannopoulos advised GREEN, the energy branch of V-Group (Vasileiadis group of companies) in connection with the conclusion of one of the first non-vertical long-term power purchase agreements (PPA) in the Greek market. The PPA was entered into with Heron Energy S.A., a leading energy supplier belonging to GEK TERNA group, for the sale of the energy generated from a 9MW solar plant during a term of 12 years. We have supported GREEN throughout the negotiations with Heron Energy and Piraeus Bank, as lender, advising on the broad range of regulatory, contractual and financing aspects of the PPA transaction, including adjustments to the commercial terms further to the recently enacted producers’ revenue caps for transactions in the Greek day-ahead market. Our cross-practice team was led by Anastasia Makri, partner, head of Energy, and Smaragda Spyrou, senior associate, assisted by partner Sofia Chatzigiannidou, while partner Paris Tzoumas advised on the transaction from a bankability perspective.