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    Signature(s)

    Amount
    € 190,000,000
    Countries
    Sector(s)
    Greece : € 190,000,000
    Energy : € 190,000,000
    Signature date(s)
    11/12/2014 : € 80,000,000
    3/11/2015 : € 110,000,000

    Summary sheet

    Release date
    10 April 2014
    Status
    Reference
    Signed | 11/12/2014
    20130194
    Project name
    Promoter - financial intermediary
    PPC POWER PROJECTS ON GREEK ISLANDS
    PUBLIC POWER CORPORATION S.A.
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 175 million
    EUR 355 million
    Location
    Sector(s)
    Description
    Objectives

    The project concerns the installation of fossil fuel fired (diesel & heavy fuel oil) reciprocating engine generation units on Greek islands (around 17 in total) not connected to the mainland grid, with associated upgrading of auxiliary infrastructure. The Promoter is the incumbent electricity utility, Public Power Corporation (PPC). The total project generation capacity represents approximately 290MW, consisting tentatively of individual unit sizes ranging from 180kW to 25MW.

    The Project will promote the security of supply in an EIB priority cohesion region. It will enable the Promoter to satisfy the growing demand for electricity and improve the security and reliability of electricity supply. The Project is therefore eligible under article 309 a) projects for developing less-developed regions, and c) Common Interest of the Treaty on the Functioning of the European Union. The financing of this Project would contribute to the Bank’s lending priority policy on convergence regions and on security and diversification of energy supply.

    Environmental aspects
    Procurement

    The Project components fall under Annex II of the EIA Directive (2011/92/EU). All but one of the components will be located within the boundaries of existing power stations. The Promoter has indicated that EIAs will be required for some project components, the extent and number, as well as any environmental impacts will be verified during appraisal.

    The Bank will require the Promoter to ensure that contracts for the implementation of the Project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation 2004/17/EC and Dir. 2007/66/EC [amending Directives 1989/665/EEC and 1992/13/EEC], with publication of tender notices in the EU Official Journal, as and where required.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Documents

    Non-Technical Summary (NTS) - PPC POWER PROJECTS ON GREEK ISLANDS - Rhodes Island
    Publication Date
    16 May 2016
    Document language
    Main Topic
    Lending
    Document Number
    54758089
    Document Focus
    Environmental Information
    Project Number
    20130194
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    Non-Technical Summary (NTS) - PPC POWER PROJECTS ON GREEK ISLANDS - Limnos Island
    Publication Date
    16 May 2016
    Document language
    Main Topic
    Lending
    Document Number
    54903345
    Document Focus
    Environmental Information
    Project Number
    20130194
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    Non-Technical Summary (NTS) - PPC POWER PROJECTS ON GREEK ISLANDS - Thira Island
    Publication Date
    16 May 2016
    Document language
    Main Topic
    Lending
    Document Number
    54910448
    Document Focus
    Environmental Information
    Project Number
    20130194
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    Non-Technical Summary (NTS) - PPC POWER PROJECTS ON GREEK ISLANDS - Lesvos Island
    Publication Date
    16 May 2016
    Document language
    Main Topic
    Lending
    Document Number
    54910449
    Document Focus
    Environmental Information
    Project Number
    20130194
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    Non-Technical Summary (NTS) - PPC POWER PROJECTS ON GREEK ISLANDS - Kos Island
    Publication Date
    16 May 2016
    Document language
    Main Topic
    Lending
    Document Number
    54910842
    Document Focus
    Environmental Information
    Project Number
    20130194
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    Non-Technical Summary (NTS) - PPC POWER PROJECTS ON GREEK ISLANDS - Lesvos Island
    Publication Date
    16 May 2016
    Document language
    Main Topic
    Lending
    Document Number
    54911338
    Document Focus
    Environmental Information
    Project Number
    20130194
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    Non-Technical Summary (NTS) - PPC POWER PROJECTS ON GREEK ISLANDS - Thira Island
    Publication Date
    16 May 2016
    Document language
    Main Topic
    Lending
    Document Number
    54912232
    Document Focus
    Environmental Information
    Project Number
    20130194
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    Non-Technical Summary (NTS) - PPC POWER PROJECTS ON GREEK ISLANDS - Thira Island
    Publication Date
    16 May 2016
    Document language
    Main Topic
    Lending
    Document Number
    54912648
    Document Focus
    Environmental Information
    Project Number
    20130194
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    Environmental and Social Data Sheet (ESDS) - PPC POWER PROJECTS ON GREEK ISLANDS
    Publication Date
    8 Jan 2015
    Document language
    Main Topic
    Lending
    Document Number
    56869088
    Document Focus
    Environmental Information
    Project Number
    20130194
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    Environmental and Social Completion Sheet (ESCS) - PPC POWER PROJECTS ON GREEK ISLANDS
    Publication Date
    24 Jan 2020
    Document language
    Main Topic
    Lending
    Document Number
    124839838
    Document Focus
    Environmental Information
    Project Number
    20130194
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now

    News & Stories

    General enquiries and comments

    The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

    Media enquiries

    Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

    Complaints mechanism

    Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

    Zero tolerance against fraud and corruption

    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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