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Signature(s)

Amount
€ 10,000,000
Countries
Sector(s)
Greece : € 10,000,000
Energy : € 10,000,000
Signature date(s)
30/09/2025 : € 10,000,000
Link to source

Summary sheet

Release date
6 October 2025
Status
Reference
Signed | 30/09/2025
20240242
Project name
Promoter - financial intermediary
IBERDROLA WIND FARM GREECE
C. ROKAS INDUSTRIAL COMMERCIAL SA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 10 million
EUR 32 million
Location
Sector(s)
  • Energy - Electricity, gas, steam and air conditioning supply
Description
Objectives

The project comprises the construction and operation of a 22.5MW onshore wind farm, located in the regional units of Viotia and Fthiotida, in central Greece.

The aim is to contribute to national and EU energy and decarbonisation objectives.

Additionality and Impact

The implementation of the Project increases RES generation capacity in Greece and contributes to its 2030 targets set out in the National Energy and Climate Plan and the REPowerEU Action Plan.


The financing of this Project contributes to Bank's lending priority objectives on Energy, Environmental Sustainability and Climate Action, as well as Social and Economic Cohesion.


The Project will address the market failure of negative climate and environmental externalities, through the reduction of carbon emissions and air pollution (compared to fossil-fuel generation). It is expected to rely primarily on revenues from commercial PPAs and the wholesale market, thereby improving market efficiency and competition. 


The Project is expected to have a positive ERR, considering the economic value of the electricity generated. It will generate a positive broader social benefit by generating clean and renewable energy at a cost reasonably below alternatives in Greece. On project quality, the Project is implemented by a promoter with strong capacity and expertise in this field.


EIB's financing will allow the Promoter to diversify its funding sources and decrease its dependence on intra-group financing. It will provide the Promoter with more favourable terms than market alternatives and will allow the Promoter to also apply for a complementary RRF loan (funds under EU's Recovery and Resilience Facility).

Environmental aspects
Procurement

Onshore Wind farms fall under Annex II of the )environmental impact assessment (EIA Directive 2014/52/EU amending 2011/92/EU, requiring the competent authorities to determine whether an EIA is required. Overhead transmission lines for the interconnection of plants to the grid falling under Annex I due to their technical characteristics, shall be subject to an EIA process. Both projects and their grid connections underwent a full EIA process. Compliance with applicable EU Directives will be assessed during appraisal, in particular concerning cumulative impacts and potential impacts on nature conservation sites.

The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. The renewable energy plants will likely be operating without exclusive or special rights within the meaning of the EU Utilities Directive 2004/17/EC and subsequent 2014/25/EU, hence private sector procurement procedures are expected to apply.

Milestone
Under appraisal
Approved
Signed
15 April 2025
30 September 2025
Link to source
Other links

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

Environmental and Social Data Sheet (ESDS) - IBERDROLA WIND FARM GREECE
Publication Date
7 Oct 2025
Document language
Main Topic
Lending
Document Number
241700515
Document Focus
Environmental Information
Project Number
20240242
Sector(s)
Regions
Countries
Publicly available
Download now
Other links

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.

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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 Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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