Best Project Finance Lawyers in Nea Erythraia

1. About Project Finance Law in Nea Erythraia, Greece

Project finance in Nea Erythraia operates within Greece's broader framework for infrastructure, energy, and public procurement. Finance for large projects is typically channeled through a special purpose vehicle (SPV) that is separate from sponsors, with lenders relying on project cash flows rather than the overall credit of the sponsors. In practice, lenders, developers, and public authorities must align contract structures with Greek law and EU procurement rules to enable financing, construction, and operation.

Nea Erythraia residents often encounter project finance in sectors such as solar and wind energy, waste and water management, road and rail concessions, and urban infrastructure upgrades. Local regulatory approvals, environmental permits, and land use consents frequently shape the timing and feasibility of deals. A Greek project finance attorney can help you navigate the intersection of municipal permitting, national licensing, and lender requirements.

Because Greek project finance deals mix corporate, tax, real estate, energy, and procurement law, a focused lawyer ensures the SPV, shareholding, security interests, and long term obligations are well documented. This reduces risk for lenders and increases the likelihood of a timely close. For accuracy, you should consult a licensed Dikigoros (lawyer) familiar with Greek project finance practice.

2. Why You May Need a Lawyer

Here are concrete, real-world scenarios where a local project finance solicitor can provide essential help in Nea Erythraia and the surrounding Attica region.

• A developer wants to finance a 60 MW solar park near Attica using a Greek bank loan and an export credit agency guarantee. You need a term sheet, SPV formation, and security packages that satisfy lenders and regulators.
• You plan a PPP concession for a wastewater treatment facility and must draft a concession agreement, procurement documents, and compliance plans under Law 4412/2016 and EU directives.
• You require due diligence on land rights, zoning, and environmental permits before closing a project finance loan for a wind project near Elikonos Ridge, including grid connection negotiations with RAE.
• Your SPV needs to issue project bonds alongside bank debt. A lawyer will align bond covenants, intercreditor arrangements, and security interests with banking terms and local tax rules.
• You are negotiating a cross-border loan with lenders from Greece and the EU. You need a robust intercreditor agreement, currency hedging, and cross-border security structuring.
• You face a bid for a regional PPP in the Athens metropolitan area. Counsel is required to manage tender compliance, bidder eligibility, and procurement timelines under EU and Greek law.

3. Local Laws Overview

Two to three specific laws and regulations govern project finance activities in Nea Erythraia. These shape how procurements are run, how PPPs are structured, and how cross-border financing interacts with local law.

• Law 4412/2016 Public Procurement - Governs public procurement procedures, utilities, and concessions in Greece. It transposes EU directives and applies to PPPs, build-operate-transfer deals, and large infrastructure procurements. Effective since 2016, it standardizes bidding and contract award processes across the public sector.
• Law 3389/2005 Public-Private Partnerships and Concessions - Establishes the framework for PPP contracts and concession arrangements in Greece. The law provides model concession terms, risk allocation, and governance for private participation in public projects. It has been amended over the years to reflect EU guidance and market practice.
• Directive 2014/24/EU on Public Procurement - Sets the overarching EU rulebook for public procurement. Greece implemented and transposed it through national legislation like Law 4412/2016. It governs competitive bidding, transparency, and contract award for public sector projects across the EU.

Public Procurement Directive 2014/24/EU text and its aim to harmonize procurement practices across member states.

Greece transposed EU public procurement rules into national law through Law 4412/2016, aligning with Directive 2014/24/EU.

For energy sector licensing and market regulation, the Regulatory Authority for Energy (RAE) and related Greek institutions play key roles alongside local municipal approvals. EU procurement rules influence how projects are bid, selected, and contracted in practice.

4. Frequently Asked Questions

What is project finance?

Project finance is a funding structure where a project’s cash flows repay the debt. The SPV bears the project risk, not the sponsors’ general assets.

How do I start a project in Nea Erythraia?

Define the project scope, identify permits, assemble a team, and engage a local project finance lawyer before launching any procurement or financing efforts.

What is an SPV and why form one?

An SPV isolates project risks and concentrates assets and liabilities. Lenders typically require SPV-based security and tax efficiency for returns.

What licenses are needed for a renewable project near Athens?

You will need permits from environmental authorities, grid access approvals, and possibly local planning permissions from the municipality.

How much can I borrow for a Greek project?

Borrowing depends on project cash flow, off-take agreements, and lender risk assessment. Typical debt is structured as long-term project finance with tenor aligned to asset life.

How long does due diligence take in Greece?

Due diligence for a major project typically runs 4-8 weeks, depending on land rights, permits, and contract complexity.

Do I need to hire a Greek lawyer (dikigoros) for regulatory approvals?

Yes. A local lawyer helps with municipal approvals, procurement compliance, and contract negotiation under Greek law.

What is the procurement process for PPP projects in Greece?

The process follows EU procurement rules, with prequalification, tendering, bid evaluation, and award. Law 4412/2016 governs the procedures.

What is the difference between a loan agreement and a project bond in Greece?

A loan agreement is bank-led debt with traditional security. A project bond is a debt instrument sold to investors, often with different covenants and distribution considerations.

Can lenders require local security interests for project finance?

Yes. Lenders typically require security over SPV assets, contracts, and revenue streams, while balancing cross-border enforcement considerations.

When do regulatory approvals from RAΕ typically occur?

RAΕ licensing and grid access decisions may take several months, depending on project complexity and market conditions.

Where can I learn about incentives for renewables financing in Greece?

Explore official sources from government and investment agencies for subsidies, tariffs, and financing programs related to renewables.

5. Additional Resources

These official resources provide practical guidance and official information on project finance in Greece.

• Hellenic Republic Asset Development Fund (HRADF) - Manages privatizations, PPPs, and concession awards. This authority often coordinates with private partners on large infrastructure projects. https://www.hradf.gr/
• Invest in Greece Agency (Enterprise Greece) - Supports foreign investment, provides market intelligence, and assists with licensing and regulatory navigation for projects. https://www.enterprisegreece.gov.gr/
• Regulatory Authority for Energy (RAE) - Regulates energy markets, issues licenses, and oversees grid access and tariff decisions for energy projects. https://www.rae.gr/

6. Next Steps

1. Define the project type and regulatory route. Create a high-level timeline and identify potential lenders and offtakers. Expect 1-2 weeks for initial scoping.
2. Engage a local project finance lawyer with Greece-specific experience. Schedule an intake within 1-2 weeks to outline the SPV structure and key contracts.
3. Form the SPV and outline corporate and tax considerations. Anticipate 2-4 weeks for initial incorporation and governance setup.
4. Begin due diligence on land rights, permits, environmental compliance, and grid connection. Plan for 4-8 weeks depending on project complexity.
5. Draft and negotiate the term sheet with lenders and prepare the indicative financing plan. Allow 2-4 weeks for negotiation and alignment.
6. If applicable, prepare tender documents and procurement filings under Law 4412/2016. Coordinate with the procurement timeline; this can range from 3 to 9 months depending on project class.