EIB helps finance improvement to Greek distribution network
The European Investment Bank is supporting the investment program of the Hellenic Distribution Network Operator, a subsidiary of Public Power Corporation (PPC), the largest electricity generator and supplier in Greece.
EIB and PPC have signed the second 20-year loan agreement, with the guarantee of the Hellenic Republic, amounting to €100 million, out of a total approved facility of €255 million for the reinforcement and the modernization of the Greek electricity distribution network across the mainland and islands.
Expansion of the national electricity distribution network will cater for expected increased future demand and enable electricity consumers across Greece to benefit from more reliable electricity supply. More than 7,000km of new medium and low voltage electricity distribution lines will be installed that will improve distribution efficiency and increase network resilience and stability.
