Financing National Energy Holdings’ green investments
Piraeus Bank financed National Energy Holdings, an international investor in the renewable energy sources sector, for the construction of five solar parks with a total capacity of 24 MW.
National Energy, based in London, is financed by American capitals and is active in the development, construction and operation of RES projects, with emphasis on solar parks and wind turbines. In partnership with Piraeus Bank, it is making its first investment in Greece, with five solar parks to be constructed in Central Greece.
The financing of the €22 million transaction is taking place in the context of the Bank’s strategy for supporting green investments and financing projects that contribute to the transition to a sustainable economy.
Financing of MATRIX PACK according to environmental, social and corporate governance (ESG) criteria
In the context of promoting circular economy and reducing the environmental footprint of plastic products, Piraeus Bank based its decision to finance MATRIX PACK SA on Environmental, Social and Corporate Governance (ESG) criteria.
These criteria promote sustainable growth and concern, among others, like,
- Harmonisation of the company’s manufacture under the requirements of EU Directive 2019/904 for reduction of the impact of certain plastic products on the environment, and the requirements resulting from the Directive’s application to National Law by 30 June 2021 or earlier, if required by national legislation.
- Certification that at least 90% of raw materials are biodegradable in the ground.
- Maintenance and renewal of Forest Stewardship Council (FSC) compliance certifications.
The initial €6 million in financing is for MATRIX PACK SA investments in Greece for converting its manufacturing from plastic straws to biodegradable and paper straws.
Piraeus Bank promotes a circular and sustainable economy, strengthening its leading position in the financing of Greek industry and proving its commitment to the Principles of Responsible Banking, implementing transparent banking procedures designed to protect the environment and support society.