The financing package for the Hellenic Halyvourgia solar park totals €18.9 million, comprising a €5.7 million EBRD loan, €9.4 million in Recovery and Resilience Facility loans channelled via the Greek authorities, and €3.8 million from Hellenic Halyvourgia's own funds. The project was signed under the EBRD's Greek RRF Co-Financing Framework, implemented as part of the "Greece 2.0" National Recovery and Resilience Plan and funded by the European Union's NextGenerationEU programme.
Greece – storage steps in as PV tariffs lose their shine
The project will help decarbonise one of the country's most energy-intensive industrial sectors while strengthening the competitiveness and resilience of domestic steel production. The solar park is expected to cover around 20% of the company's electricity needs, reducing its exposure to volatile energy prices and cutting annual carbon emissions by more than 22,000 tonnes. Greece's national energy and climate objectives receive a further boost from the project, which increases the use of renewable energy in heavy industry and contributes to the country's Recovery and Resilience Plan. (hcn)
