EIB funds DEPA’s solar parks with €390m loan

Greece’s largest gas supplier, DEPA Commercial, has secured a €390 million ($423.19 million) loan from the European Investment Bank (EIB) to fund the construction of solar parks across the country.

This loan will cover over two-thirds of DEPA’s planned €500 million investment in new solar plants over the next four years.

The solar parks will be located in Macedonia, Thessaly, and other areas of Greece’s mainland, with a total capacity of about 800 megawatts, enough to power approximately 278,000 households annually.

Environment Minister Theodore Skylakakis highlighted that these investments will reduce electricity costs for consumers and enhance Greece’s energy security.

Greece, which achieved a record 57 per cent share of renewables in its electricity output last year, aims to increase this share to 80 per cent by 2030, driven by its substantial solar and wind resources.

Attribution: Reuters.