Public Power Corporation SA announces that today December 11th, 2014, the first loan agreement amounting to €80 million was signed with the European Investment Bank, aiming at investments for the period 2014-2019 in new power generation projects in the non-interconnected islands. Said agreement is the first tranche of a €190 million facility and concerns investments such as:
• The construction of a Power Plant in southern Rhodes of 115 MW net capacity aiming at securing the long-term electricity supply of the island and achieving high environmental performance.
• Development projects in seventeen Autonomous Power Stations in various islands such as Santorini, Lesvos, Kalymnos etc. aiming at the reliable electricity supply of these islands, the replacement of old technology units with new more environmentally friendly ones, as well as the upgrading and modernization of the existing power plants’ equipment and infrastructure.
PPC Group has a long-term cooperation with the European Investment Bank, which constitutes a strategic financing partner by supporting the investment program of the Group with respect to projects of major importance for the economy, the Greek consumers, the security of supply of the country and the environment.
Athens, December 11, 2014