Mytilineos To Invest In 2.6GW Solar, Battery Storage

• Mytilineos SA secures €400 million loan from EIB to install 2.6 GW of solar and storage capacity across EU countries, enabling €2.5 billion of projects and helping EU reach net zero emissions by 2050. Upgrade of Greek electricity grid included.

Mytilineos SA has secured a EUR 400 million loan from the European Investment Bank (EIB) to install 2.6 GW of solar and storage capacity across Greece and other EU countries by 2027. The investment will enable the rollout of EUR 2.5 billion worth of projects and is part of the block’s push to reach net zero emissions by 2050. The loan will also go towards upgrading Greece's electricity grid and enhancing its power supply.

What Will EUR 400 Million Loan from EIB Enable?

• The EUR 400 million loan from the European Investment Bank (EIB) will finance the installation of solar and storage capacity in Greece and other EU countries, with a total capacity of up to 2.6 GW.
• Providing EUR 2.5 billion in investments, this is a major step towards reducing emissions and achieving the EU’s target of net-zero emissions by 2050.
• The loan will also go towards improving the electricity grid and power supply in Greece, making it more reliable and efficient.
• This loan will help to create new jobs and economic development in Greece, as well as in other EU countries, as the solar and storage capacity is rolled out.
• The loan is expected to provide significant environmental and climate benefits, as solar and storage capacity reduces emissions and helps to transition towards renewable energy sources.