Reference: 20160042
Release date: 12 December 2016

Promoter – Financial Intermediary

FRAMEWORK LOAN FOR RENEWABLE INVESTMENTS

Location

Description

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

Objectives

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).

Sector(s)

  • Energy - Electricity, gas, steam and air conditioning supply

Proposed EIB finance (Approximate amount)

EUR 85 million

Total cost (Approximate amount)

EUR 114 million

Environmental aspects

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.

Procurement

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.

Status

Signed - 20/12/2017

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).

Related tags

Greece Energy