The multilateral co-operation agreement for the MINOS 50MW solar power project in Greece was successfully signed in November 2019 in the presence of the state leaders of China and Greece. With an investment of about US$300 million, it was the first concentrated solar power (CSP) project in Greece, and the first time China had exported such technology to Europe. Upon completion, the project will provide high-quality clean electricity equivalent to 10% of the local electricity demand annually.

The transaction involved many domestic and foreign parties, and the financing structure was complex. The project was developed by the UK-based Nur Energie. The consortium, composed of China Energy Construction Gezhouba Group International Engineering and Zhejiang Supcon Solar Technology, was the EPC contractor for the project. Greek local company PRENECON participated in the construction of the project, and Industrial and Commercial Bank of China (ICBC) would provide financing support for the project.

Pinsent Masons acted as legal counsel to the contractor of the engineering, procurement and construction (EPC) project. To read more click here.