Greece's PPC in line for EIB loan to fund wind, hydro projects

An EUR-85-million (USD 90m) framework loan to the renewables subsidiary of Greek utility PPC SA (ATH:PPC) is "under appraisal" by the European Investment Bank (EIB).

The EIB loan is to be used to finance an investment programme, worth a total of about EUR 114 million, consisting of several wind farm and small hydropower projects. The facilities would be located throughout mainland Greece and the islands.

The aim of the project is to increase energy generation in Greece through the development of renewable energy sources, EIB says. The bank will require the contracts for the implementation of the programme to be tendered in line with EU procurement rules, where applicable.

According to the company's website, PPC Renewables SA has 144.7 MW of operating capacity in wind farms, small hydroelectric plants and photovoltaic (PV) plants.

(EUR 1.0 = USD 1.060)

Choose your newsletter by Renewables Now. Join for free!