Greek public gasoline company DEPA Business SA has secured a EUR 390 million ($421.6 million) mortgage from the European Funding Financial institution (EIB) to construct and function photo voltaic vitality crops throughout the nation.
EIB and DEPA mentioned in a joint assertion the funding covers 75 % of the entire value of the brand new photovoltaic (PV) websites. The whole value is predicted to succeed in as much as EUR 521 million ($563 million).
DEPA is ready to implement PV farms in western Macedonia, Thessaly, and central Greece, including roughly 800 megawatts of renewable vitality in Greece.
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The EIB’s financing helps new investments in “cohesion” areas the place per capita earnings is decrease than the EU common.
“The advantages of such investments, which contribute to the additional penetration of renewable vitality sources into Greece’s vitality combine, are manifold. These embrace the discount of electrical energy prices for shoppers and, after all, the enhancement of vitality safety and, consequently, the strengthening of our nation’s vitality independence”, mentioned the Minister of Setting and Vitality Theodoros Skylakakis.
“Scaling up vitality funding is essential to enhance community reliability, harness Greece’s solar-energy potential, and contribute to the nation’s vitality transition”, mentioned EIB vp Ioannis Tsakiris. “Europe’s inexperienced and sustainable future will move by way of initiatives like this one. Our houses, locations of labor, and different buildings should be powered from renewable sources of vitality, and PV farms like these will play an vital function in transferring the needle on the larger use of renewable, sustainable vitality“.
The financing is a part of EIB’s bundle of help for REPowerEU, the EU’s multibillion-euro plan to cut back dependence on fossil-fuel imports and speed up the inexperienced transition.
Over the previous decade, the financial institution has supplied greater than EUR 4.3 billion ($4.6 billion) for vitality investments in Greece, together with main enhancements in connecting Greek islands to the grid, harnessing renewable vitality, and accelerating vitality effectivity, in accordance with the assertion.
To contact the creator, e mail andreson.n.paul@gmail.com
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