ATHENS & LONDON – Global law firm Reed Smith has advised Sirec Energy, an investment company in energy efficiency, circular economy and energy production from renewable sources, on the formation of a Greek Green-Energy Fund with a first closing of €50m and targeting total commitments of €70m.

Related Professionals: Panos Katsambas George Fountas

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The European Sustainable Investments Fund has secured commitments from the Hellenic Development Bank of Investments, and other institutional and private investors, and is dedicated to sustainable infrastructure investments in Greece.

The cross-office team advising on the deal was led in London by global co-lead of Reed Smith's Financial Industry Group, Panos Katsambas, and supported by corporate partner Shervin Shameli, and associate in Athens, George Fountas.

Panos Katsambas said: “We are delighted to have supported Sirec Energy in the establishment, structuring and operation of this financing, drawing on our extensive expertise across all aspects of funds finance to assist with the formation of this significant energy fund.”

Dionissis Alissandratos, Chairman of Sirec Energy, said: “We are proud to announce the first closing at €50 million of our private equity energy fund, dedicated to sustainable infrastructure investments in Greece. The Fund will be invested in a period characterized by growing green energy demand and significant capital requirements for clean energy infrastructure.

“Directing funds towards the development of a clean, reliable, and cost-effective energy system in Greece goes hand-in-hand with the country’s NECP (National Energy and Climate Plan) and we look forward to contributing our part.”