The European Investment Bank has lent Greek energy company DEPA Commercial €390 million to support the development of 800 MW of solar PV projects across Greece.
The funding will cover 75% of the cost of the solar sites, the EIB said, which is expected to run to €521 million. The projects will be developed in Western Macedonia, Thessaly, and central Greece. They will be built in communities where per-capita income is below the EU average, which the EIB calls “cohesion” regions.
The EIB also said that the funding is part of its ongoing support for the EU’s REPowerEU scheme, which was introduced in the wake of the 2022 invasion of Ukraine by Russian forces to accelerate the rollout of renewable energy sources across the bloc and reduce its reliance on imported fossil fuels.
The EIB said that it has provided over €4.3 billion for energy investments in Greece over the last decade.
