Cubico Sustainable Investments has bought and refinanced a 25MW onshore wind portfolio in Greece and secured a €24m refinancing facility for the newly acquired portfolio.

The renewable energy investor said it has bought Eoliki Zaraka Rachi Gkioni Energy from Underfoc Holdings for an undisclosed sum. Eoliki owns three operational onshore wind farms in the Viotia region of Sterea Ellada.

Cubico has refinanced the portfolio with Piraeus Bank providing facilities with a combined value of €24m.

David Swindin, head of EMEA at Cubico, said: “We see good opportunities for growth in the Greek market and anticipate adding to our portfolio in the coming months with both brownfield and greenfield projects.

“The setting up of a local office is very much in keeping with our strategy of wanting to be close to our assets.”

Alessandro Asperti, country head for Italy and Greece at Cubico, said: “The completion of this acquisition and refinancing given the current challenging and unfamiliar circumstances is testament to the remarkable work of our teams and partners.”

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