Greek Public Power Corporation (PPC) will receive a loan worth 330 million euros from the European Investment Bank (EIB) to upgrade its power distribution grid and facilitate the wider penetration of renewables.
The 20-year loan will be disbursed through several financing contracts, the second one of which for 100 million euros was signed earlier this week.
The fresh funds will enable PPC to build some 6,600 kilometers of new electricity transmission lines and upgrade 7,600 kilometers of existing lines across the electricity distribution network operated by its subsidiary DEDDIE on the mainland and the Greek islands. Also, the company will be able to deploy smart meters and thus improve efficiency and allow the greater adoption of renewables.
