European Investment Bank Commits EUR 28.5 Mn for 3 Solar Plants for Greece

• PPC Renewables, which is a wholly-owned subsidiary of the Public Power Corporation SA, Greece's largest power generation company, has revealed that it will develop three solar power plants, that will boast of a collective capacity of 230 MWp.
• This is readied to be amongst the largest solar power projects developed or in the pipe in Greece, as per European Investment Bank (EIB).

PPC Renewables, which is a wholly-owned subsidiary of the Public Power Corporation SA, Greece's largest power generation company, has announced that it will certainly establish three solar power plants, that will take pride in a collective capacity of 230 MWp. This is set to be among the biggest solar power projects established or in the pipeline in Greece, as per European Investment Bank (EIB).

The European Investment Bank is a multilateral financial institution on the planet and also among the largest carriers of climate financing. The institution has committed EUR 28.5 Mn for the claimed projects that are to find up in Kozani.

The Kozani solar power project contains 18 project websites amounting to an overall of 204 MW capacity as well as it is one of the biggest in Europe. Once totally increase, Kozani project will deliver up to 320 million kilowatt-hours (KWh) per annum providing electricity to greater than 75,000 houses.

The 3 solar power plants that have actually been announced belong of Greece's National Energy and Climate Strategy (NECP). They are being established for propel the use of renewable energy resources and also enhancing the supply of power from renewable sources in the long term.

As disclosed by Christian Kettel Thomsen, EIB Vice-President looking into lending in Greece, the European Investment Bank will certainly better fund Greece's projects on electrical energy generation and also breakthrough assistance to climate action as well as environmental sustainability to over 50% of its general financing activity.

The EIP preserves that in the last ten years, it has assisted in over EUR 4.3 billion for the function of energy investment in Greece. This requires enhancing connections to Greek islands, manipulating renewable resource, in addition to speeding up investment for energy efficiency.

Greece is making significant development on the renewables front. In October 2022, the nation revealed that its electric grid ran entirely on 100 percent renewables-- a first for the country.