Renewables

Four systemic Greek banks join EUR 650 million sustainable infrastructure program – EIB

Four systemic Greek banks

Photo: Twitter.com/eib

Published

October 4, 2019

Country

Comments

0

Share

Published:

October 4, 2019

Country:

Comments:

0

Share

The European Investment Bank (EIB) has confirmed in a press release involvement of four systemic Greek banks in a new EUR 650 million green infrastructure investment program.

Confirmation of the involvement of the four systemic Greek banks – Alpha Bank, Eurobank, National Bank of Greece, and Piraeus Bank – will enable EUR 650 million for new sustainable investment across Greece, the press release reads. The Infrastructure Fund of Funds will combine national and European Commission resources (ESIF) and accelerate clean energy investment, including energy efficiency and renewable energy and sustainable urban development projects, the EIB said.

Sustainable projects being considered for investment under the new Fund of Funds scheme include wind farms, photovoltaic installations, biomass and biogas plants and hydroelectric power stations. New investment to improve energy efficiency in the public and private buildings will also be examined.

Reflecting the importance of supporting socio-economic development the new initiative will unlock high-impact investment in projects including industrial parks, education, and cultural facilities, tourism facilities and conference centers.

The Hellenic Ministry of Development and Investments established the Infrastructure Fund of Funds with the EIB to maximize the impact of European Structural and Investment Funds, along with national funds sourced from an EIB loan and proceeds returned from previous urban investments under the JESSICA initiative.

Once fully operational, the new infrastructure scheme will provide financing of EUR 450 million unlocking total investments of at least EUR 650 million for sustainable projects across priority sectors. The European Structural and Investment Funds contribution comes from the Operational Programme Competitiveness, Entrepreneurship and Innovation 2014-2020.

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

EU energy ministers targets renewables energy efficiency

EU energy ministers aiming at more ambitious renewables, energy efficiency targets

28 June 2022 - The Council of the EU wants to boost the renewables and energy savings targets via the Fit-for-55 package, which depends on upcoming talks

Skrekas Greece triple LNG storage renewable energy capacity

Skrekas: Greece to triple LNG storage, renewable energy capacity

27 June 2022 - Minister of Environment and Energy Kostas Skrekas said the government would mobilize over EUR 44 billion for Greece's energy sector by 2030

Austria ban gas boilers new buildings next year

Austria to ban gas boilers in new buildings in 2023

15 June 2022 - Austria is phasing out fossil fuels in heating, starting with a ban on the installation of gas boilers in new buildings from next year

MRE-GIZ-prosumers-project-june 2022

Germany’s GIZ to help Serbia make renewables available to everyone

09 June 2022 - Minister Zorana Mihajlović signed an agreement with GIZ on the Promotion of Renewable Energy and Energy Efficiency in Serbia