From: Mercom India
ContourGlobal, an international independent power producer backed by KKR, has secured €43.8 million (~$52 million) in refinancing from Eurobank for a 36.7 MW operational solar portfolio in Greece.
The refinancing covers the majority of the acquisition cost of a portfolio comprising 26 operational solar photovoltaic projects, held across seven special purpose vehicles (SPVs).
The projects, with a combined installed capacity of 36.7 MW, were commissioned between 2011 and 2022.
ContourGlobal announced the acquisition of the solar project portfolio from Quest Energy, a subsidiary of the listed Greek group Quest Holdings, in January this year. The acquisition marked the company’s entry into the Greek market and supports its strategy to expand its renewable energy footprint in the country.
The projects benefit from regulated offtake arrangements under Greece’s Feed-in-Tariff (FiT) and Feed-in-Premium (FiP) mechanisms. The portfolio is geographically diversified across Greece, with assets located from the Peloponnese to Eastern Macedonia and Thrace.
The transaction restructures the portfolio’s financing by consolidating a previously fragmented structure of 14 project- and SPV-level facilities involving multiple lenders into seven SPV-level financing arrangements. This structure is expected to improve financial efficiency, enhance transparency, and support long-term operational stability.
Advisors to the transaction included Koutalidis Law Firm and Hogan Lovells for ContourGlobal, while Alexiou–Kosmopoulos Law Firm advised Eurobank.
Parallely, ContourGlobal acquired full ownership of six battery storage projects through two different transactions with developers Fotowatio Renewable Ventures, from Spain, and Zephiros, a Greek developer, totaling 500 MW/2,000 MWh of battery storage capacity across different regions.
Large-scale solar project funding increased by 37% in 2025 compared with the funding raised in 2024, according to Mercom’s recently released Annual and Q4 2025 Solar Funding and M&A report.
In October 2025, the company had secured more than $350 million in tax equity and debt financing for its U.S. projects.
