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Signature(s)

Amount
€ 85,000,000
Countries
Sector(s)
Greece : € 85,000,000
Energy : € 85,000,000
Signature date(s)
20/12/2017 : € 85,000,000

Summary sheet

Release date
12 December 2016
Status
Reference
Signed | 20/12/2017
20160042
Project name
Promoter - financial intermediary
FRAMEWORK LOAN FOR RENEWABLE INVESTMENTS
PPC RENEWABLES SA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 85 million
EUR 114 million
Location
Sector(s)
  • Energy - Electricity, gas, steam and air conditioning supply
Description
Objectives

Multi-component investment programme comprising several sub-projects of (i) wind farms as well as (ii) small hydropower plants geographically dispersed throughout mainland Greece and the islands

The main purpose of the project is to increase energy generation in Greece through the development of renewable energy sources (onshore wind plants and small hydropower plants).

Environmental aspects
Procurement

In accordance with the Bank's policy to ensure that sub-projects comply with the EU acquis, in particular in the field of the environment, the Bank will require PPCR, the promoter, to take all the requisite measures to ensure that the environmental procedures carried out by the final beneficiaries for the sub-projects that the Bank finances comply with relevant EU legislation and applicable national legislation, provided that it is in conformity with EU rules.

The Bank will require the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2014/24/EU or 2014/25/EU, where applicable, as well as Directive 92/13/EEC or Directive 89/665/EEC), as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.

Link to source

Disclaimer

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

Documents

Non-Technical Summary (NTS) - PPCR FRAMEWORK LOAN FOR RENEWABLE INVESTMENTS - Link to Promoter's website for the NTS
Publication Date
16 Dec 2016
Document language
Main Topic
Lending
Document Number
72611452
Document Focus
Environmental Information
Project Number
20160042
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Data Sheet (ESDS) - PPCR FRAMEWORK LOAN FOR RENEWABLE INVESTMENTS
Publication Date
3 Nov 2017
Document language
Main Topic
Lending
Document Number
73947835
Document Focus
Environmental Information
Project Number
20160042
Sector(s)
Regions
Countries
Publicly available
Download now

News & Stories

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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.

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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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