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Greece will use new EIB funds for at least 79 mln euros worth of energy efficiency projects

The European Investment Bank (EIB) has signed a new European Local Energy Assistance (ELENA) contract for Technical Assistance with the Greek state and the work supported will significantly improve energy efficiency in public buildings and other venues such as schools, hospitals, sports facilities and administrative buildings all over the country.

In particular, the ELENA grant will support the Ministry in the preparation of three schemes targeting energy efficiency retrofits in 18 public buildings, the installation of photovoltaic panels on those buildings which will annually produce over 7 gigawatt-hours (GWh) of renewable electricity and energy efficiency measures in the regional and municipal street lighting network in over 40,000 street lighting points.

“Our new cooperation with the EIB has two goals: the strengthening of the Development and Investment Ministry’s valuable and longstanding collaboration with the EIB in new fields and providing support for the Greek bodies involved in energy saving and tackling climate change,” said Ioannis Tsakiris, Greece’s Alternate Minister of Development and Investments. “The Development and Investment Ministry’s PRODIGEE initiative aims to further energy efficiency actions and will receive financing of 2.5 million euros from the EIB’s ELENA initiative. PRODIGEE seeks to achieve project maturity for improving the energy efficiency of street lighting and public buildings, while also supporting the installation of photovoltaics in the built environment.”

“These are actions that will assist environmental sustainability and help reduce emissions,” he continued. “The final beneficiaries will be regional authorities, municipalities, organisations from the public administration, public entities and private law entities overseen directly or indirectly by the state. Beyond our agreement with the EIB’s Advisory Hub, we aim to contribute enthusiastically and effectively to the task of generating proposals that will help adapt investment in Greece to climate change.”

“To meet the 2030 climate target, energy efficiency needs to be prioritised and we are very happy that the ELENA contract with the Ministry of Development and Investments will support an expert team at the national level to prepare much-needed energy efficiency investments,” commented Louise White, ELENA Coordinator at the EIB.

This latest agreement marks the fifth project in Greece backed by ELENA technical assistance and the first at the national level. Previous projects completed include the development of Smart-Grid Infrastructure in off-grid islands in the Aegean Sea and efficient, eco-friendly transportation, public lighting and buildings in the region of Epirus. Two more projects are ongoing – Improving Energy Efficiency in the Region of South Aegean and INTERACT in Crete (INTegrated sustainable enERgy ACTions).

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