Faria renewables forms strategic alliance with Attica Bank
Faria renewables forms strategic alliance with Attica Bank

Faria renewables forms strategic alliance with Attica Bank

For the construction of a battery energy storage system (BESS) project.
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RE+D magazine
16.07.2025

Faria Renewables has signed a loan agreement with Attica Bank to finance the construction of a Battery Energy Storage System (BESS) project.

As announced, the project involves a system with a nominal capacity of 49.9 MW and a storage capacity of 134.16 MWh, selected as part of the second Competitive Procedure held by the Regulatory Authority for Waste, Energy and Water (RAAEY) in February 2024. The system will be connected to a 150/20 kV high-voltage substation currently under construction.

Construction is expected to be completed by the third quarter of 2025. The total investment, which amounts to €28 million, forms part of the strategic pillars of green transition and energy security, supporting the more efficient integration of renewable energy sources (RES) into the national grid and enhancing the flexibility of the power generation system.

In this context, energy storage is described as key to ensuring a stable supply of renewable energy within electricity systems, offering effective solutions to improve grid reliability and power quality. It is also seen as a catalyst for the further expansion of renewable energy sources, according to the same announcement.