Total Eren SA refinanced a 162-MW renewables portfolio in Greece through a €200 million long-term nonrecourse senior debt facility.

The portfolio includes four wind farms with a total capacity of 127 MW and seven solar projects with a combined capacity of 35 MW, according to a Dec. 20 news release.

Proceeds from the transaction will be used to prepay in full approximately €110 million of existing debt in the project portfolio originally raised from the National Bank of Greece since 2015. The remaining proceeds will support Total Eren's growth objectives and enable further investments in renewable energy projects in Greece, the company said.

Eurobank Ergasias acted as lead arranger, bookrunner, hedging counterparty, account bank and subscriber for €130 million, while Alpha Bank subscribed to the remaining €70 million.

Total Eren owns a total gross installed capacity of 290 MW in Greece, according to the news release. It was recently awarded a 14.4-MW wind project named Mandra in Greece's second renewables auction.

Luxembourg-based Eren Groupe SA owns a majority stake in Total Eren, while TOTAL SA owns 23%.