Following negotiations, Lamda Energy Investments, (a wholly-owned subsidiary of Lamda Development) is proceeding with the acquisition of 20% of the shares of R Energy 1 Holding. The transaction is expected to be completed in 2022, while R Energy 1 Holding proceeded with issuing a Convertible Bond Loan, which will be fully covered by Lamda, amounting to 10 million euros with a 3-year maturity, which can be converted up to 50.1% of the company's share capital.
This collaboration marks the admission of a very important strategic partner into R Energy 1 Holding in order to jointly develop new projects in the RES sector, and will contribute to Lamda Development's plan to create a clean city with green energy in Elliniko.
Mr. Georgios Rokas, Chairman and CEO of R Energy 1 Holding welcomes Lamda Development as an associate in this new era for the Company, and stresses the importance of the new partner who will successfully contribute to the future business plans of the Group.
Commenting on this agreement, the CEO of LAMDA Development Group, Mr. Odysseas Athanasiou said:
"Our collaboration with R Energy 1 Holding, a leading company in the renewable energy sector, is contributing to the implementation of our plan to power the smart, cutting-edge city of Elliniko with green energy. Focusing on creating a truly sustainable new city, we are making our first investment with funds raised from the recently issued green bond."