EIB approves loan for PPC Renewables’ 230 MWp solar project


Photo: Zsuzska321 from Pixabay


January 20, 2023



comments icon




January 20, 2023



comments icon



The European Investment Bank (EIB) has committed EUR 28.5 million to help Greece’s PPC Renewables build three solar power plants in Kozani, with financing set to reach a maximum amount of EUR 35 million over the coming months.

PPC Renewables’ project to build the three solar power plants, with a combined capacity of 230 MWp, is one of the largest solar energy projects developed or under development in Greece, according to the EIB.

The three solar power plants are part of Greece’s ambitious NECP

The three power plants are part of Greece’s ambitious National Energy and Climate Plan (NECP), and they will help increase the use of renewable energy sources, reduce fossil fuel dependency in the electricity sector, and improve the security of supply for long-term demand, the EIB said in a press release.

The project is also part of the strategic transformation plan of PPC Group, which puts a special focus on renewable energy, according to the statement from the European Union’s lending institution.

The financing is backed by an EU budget guarantee under the InvestEU program. According to Paolo Gentiloni, the European Commissioner for the Economy, the loan is an excellent example of how InvestEU is mobilizing funding to back green energy generation across Europe.

The EIB is ready to back more green electricity projects in Greece

The EIB stands ready to finance further electricity generation projects in Greece in line with its commitment to increase support to climate action and environmental sustainability to over 50% of its overall lending activity, according to Christian Kettel Thomsen, EIB Vice-President responsible for lending in Greece.

Over the last decade, the EIB has provided more than EUR 4.3 billion for energy investment in Greece, including improving connections to Greek islands, harnessing renewable energy, and accelerating energy efficiency investment, according to the press release.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

fiat grande panda stellantis serbia electric cars automobiles

Stellantis starts producing electric cars in Serbia

22 July 2024 - With the announced state subsidies, Fiat Grande Panda from the Kragujevac plant could cost around EUR 18,000

eds ceo biljana komnenic elektrodistribucija srbije

Biljana Komnenić takes helm of Serbia’s DSO

22 July 2024 - The Government of Serbia has dismissed the acting director of distribution system operator Elektrodistribucija Srbije, Bojan Atlagić

serbia dso eib loan smart meters elektrodistribucija srbije dubravka de groot

Serbia secures EUR 80 million to replace 400,000 smart electricity meters

22 July 2024 - Distribution system operator Elektrodistribucija Srbije and the European Investment Bank have signed an EUR 80 million loan agreement

Romania-ambitious energy storage plans 5 GW by end 2026

Romania’s ambitious energy storage plans: 5 GW by end-2026

18 July 2024 - These ambitious energy storage targets are aligned with transmission system operator Transelectrica’s recommendations and analyses