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    Reference: 20200365
    Release date: 24 July 2020

    Promoter – Financial Intermediary




    Multi-component investment programme covering the period 2021-2023 aimed at renovating and reinforcing the electricity distribution network in Greece. The programme consists of a large number of medium- and low-voltage electricity distribution schemes geographically dispersed throughout peninsular and insular Greece. The main purpose of the programme is to enable the connection of new system users and to improve the current standards of safety and reliability of the network.


    The investment programme will enable the Promoter to connect new end-users including renewable generators, and improve the reliability and quality of electricity supply. Furthermore, the investments will take place in less-developed regions.


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

    Proposed EIB finance (Approximate amount)

    EUR 330 million

    Total cost (Approximate amount)

    EUR 605 million

    Environmental aspects

    Some of the programme schemes may fall under Annex II of Directive 2014/52/EU amending the EIA Directive 2011/92/EU, thus requiring a review by the competent authorities at the planning/consent stage with due regard to the necessity for an environmental impact assessment (EIA). The impacts that can be typically expected from some schemes relate to visual impact, vegetation clearance, collision and electrocution of flying vertebrates, electromagnetic fields, noise nuisance and disturbance during construction. The appraisal will focus on the Promoter's capacity to implement the programme in line with the EIB environmental and social standards and requirements.


    The Bank will require the Promoter to ensure that contracts for the implementation of the schemes have been and will be tendered in accordance with the relevant applicable EU procurement legislation, Directive 2014/25/EU where applicable, as well as Directive 92/13/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.


    Signed - 2/12/2020


    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