EIB funds DEPA for 800 MW Greek solar project
- DEPA Commercial secures EUR 390 million loan from EIB to add 800 MW of solar power capacity in Greece, supporting green energy transition goals.
DEPA Commercial, the commercial arm of Greek state-controlled natural gas supplier DEPA, has secured a EUR 390 million loan from the European Investment Bank to add 800 MW of solar power capacity in Greece. The loan will cover 75% of the project's total costs, which are estimated to be around EUR 521 million. The solar parks will be built in western Macedonia, Thessaly, and central Greece, with the capacity to power approximately 278,000 homes annually.
This funding is part of DEPA Commercial's plan to invest EUR 500 million in renewable energy over the next four years, in line with its strategy to increase solar investments and support Greece's green energy transition goals. The EIB's vice-president Ioannis Tsakiris emphasized the importance of scaling up energy investments to enhance network reliability, utilize Greece's solar potential, and contribute to the country's energy transition.
How will DEPA Commercial's EUR 390 million loan impact Greece's solar power capacity?
- The EUR 390 million loan from the European Investment Bank will enable DEPA Commercial to add 800 MW of solar power capacity in Greece.
- The loan will cover 75% of the project's total costs, which are estimated to be around EUR 521 million.
- The solar parks will be built in western Macedonia, Thessaly, and central Greece, with the capacity to power approximately 278,000 homes annually.
- This funding is part of DEPA Commercial's plan to invest EUR 500 million in renewable energy over the next four years.
- DEPA Commercial's strategy is to increase solar investments and support Greece's green energy transition goals.
- The EIB's vice-president Ioannis Tsakiris emphasized the importance of scaling up energy investments to enhance network reliability, utilize Greece's solar potential, and contribute to the country's energy transition.