Renewables

Greek Green Funds target over EUR 3 billion in investments

Green Greek Funds investments

Photo: Pixabay/byrev

Published

August 26, 2020

Country

Comments

0

Share

Published:

August 26, 2020

Country:

Comments:

0

Share

The Hellenic Development Bank of Investments (HDBI) has launched a program called Greek Green Funds for venture capital and private equity funds to finance businesses in the sectors of renewable energy production and technology, energy conservation infrastructure, sustainable development, and circular economy. The Greek Ministry of Development and Investments has said the program is expected to generate more than EUR 3 billion in investments.

The Greek Green Funds program, worth EUR 400 million, applies to businesses operating in Greece, and will run until the resources are exhausted, according to a call for proposals available on HDBI’s website. HDBI, formerly TANEO, has been mandated to manage the funds on behalf of the ministry.

Beneficiaries are to invest in new or existing SMEs or special purpose vehicles

The investment schemes financed by HDBI should be managed by private sector entities which will invest through equity participation, convertible bonds and rights-bearing bonds, in new or existing small and medium-sized enterprises (SMEs) or special purpose vehicles – companies set up to implement specific projects, according to the public call.

The call is open to all individuals and legal entities

Eligible to submit proposals to HDBI are all interested parties – natural persons or legal entities that intend to set up and manage such investment schemes.

Of the total resources, EUR 300 million will go towards all investments outlined in the definition of the Greek Green Funds, with the additional option to invest in non-energy infrastructure projects worth up to 30% of the total funds managed by an investment scheme.

Investment schemes exceeding EUR 100 million will receive up to 30% from the HDBI

HDBI will provide up to 30% of the investment, but no more than EUR 100 million, for individual investment schemes of EUR 100 million or more.

The remaining resources, EUR 100 million, are for funds that will have an upper limit of 30% for investments in solar or wind farms.

In this segment, HDBI’s participation will be 70% for schemes of up to EUR 30 million, 60% for projects of EUR 30 million to EUR 60 million, and 30% for those worth between EUR 60 million and EUR 100 million.

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

Balkans-lag-2022-global-renewables-growth-solar-power-picks-up-pace

Balkans mostly lag behind 2022 global renewables growth but solar power picks up pace

22 March 2023 - The world added a record 295 GW of renewable electricity capacity last year, increasing the stock by 9.6%, IRENA said

Greece capacity prosumers rules for energy communities

Greece slashes allowed capacity for prosumers, tightens rules for energy communities

22 March 2023 - The Greek government passed a new extensive law covering many different aspects of renewable installations

Fintel selects Windey preferred supplier giant wind park Serbia

Fintel selects Windey as preferred supplier for giant wind park in Serbia

21 March 2023 - Italy-based Fintel intends to purchase wind turbines from Zhejiang Windey for its 854 MW Maestrale Ring project in north Serbia

Cyprus power grid can t handle more renewables without upgrades storage

Cyprus power grid can’t handle more renewables without upgrades, storage

21 March 2023 - Without improvements, grid operator TSOC will be disconnecting renewable electricity units more often as the share of green energy grows