EIB for PPC Renewables projects in Western Macedonia

The European Investment Bank announced on Wednesday it is committing 28.5 million euros in financing for the Public Power Corporation Group's renewable energy arm, to help support the construction of three solar farms.

The EIB financing will reach a maximum amount of €35 million over the coming months.

The EIB loan is backed by an EU budget guarantee under the InvestEU program.

The new 230-megawatt capacity solar farms in Kozani in the "Western Macedonia Just Transition" region are part of the ambitious Greek National Energy and Climate Plan.

They will allow, along with other investments, for the greater use of renewable energy resources and reduction of fossil fuel dependency in the electricity sector, as well as improving security of supply for long-term demand.

The project, which is one of the largest solar energy projects developed and under...