Sunlight Group, a member of the international investment group Olympia, announced today the signing of a loan of € 150 million with the National Bank, lasting 7 years. The goal is to raise funds for the implementation of Sunlight’s five-year business plan for the period 2021-2026 (€ 125 million) and to cover working capital needs of a more permanent nature (€ 25 million).
The new funding will further support Sunlight’s business and investment goals of increasing its production capacity on lead-acid batteries, lithium-ion batteries, and energy storage systems. Goals that will be achieved through the upgrade of the company’s facilities in Greece (Xanthi, Komotini and Kilkis), Italy (Verona and Viniola) and the USA (North Carolina). Funds will also be allocated for the development of innovative products with an emphasis on lithium technology, the company said in a statement.
As he points out, Sunlight Group is aiming to become a world leader in the energy storage industry, already holding a significant market share. With organic and non-organic growth, Sunlight plans to expand its sales, distribution and service network, and strengthen its supply chain.
“The loan we signed with the National Bank is a vote of confidence for Sunlight and the € 560 million business plan, which we are already implementing and will complete in five years,” said Lambros Bisalas, CEO of Sunlight Group. Commenting on the signing of the loan agreement and added: “On behalf of the Board of Directors of Sunlight Group I would like to thank the executives and the management of Ethniki for their trust and cooperation. The raising of funds from the Greek banking system, the solid investment plan and our strong financial results, enable us to implement our strategic initiatives to expand into new markets, enhance the production capacity of our facilities, and develop new, innovative and sustainable energy storage solutions in a highly competitive environment, despite economic and geopolitical challenges, the support of the National Bank offers confidence that Sunlight Group will continue its growth path. And it will respond with effective high-tech solutions to the needs of its customers, gaining a leading position in the international energy storage industry “.
On behalf of the National Bank, Mr. Pavlos Mylonas, Chief Executive Officer said: “It is our great honor and satisfaction to contribute as a National Bank to the implementation of the development and extroverted design of the Sunlight Group, as it is one of the most productive companies A company which, having already invested in large production units in Greece and abroad, at the same time maintains a strong export orientation, achieving significant market shares in its highly competitive industry. Development of new solutions that meet the needs of the new era, attracting new scientists.The completion of the Sunlight financing transaction, confirms that the National Bank systematically supports healthy, productive, extroverted and new large enterprises of the country, both through the financing of needs related to their development efforts, and through the service of their daily work “.
Source: Capital
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