One of the largest financiers of global energy infrastructure, the European Investment Bank, today agreed a new EUR 255 million long-term loan with the Greek Public Power Corporation (PPC), the largest power producer and electricity supplier in Greece, to upgrade electricity distribution across the country. The new 20 year loan, guaranteed by the Hellenic Republic, represents one of the largest ever EIB loans for electricity investment in Greece.
Europe’s electricity market rules are being updated to improve the functioning of the market, empower consumers and pave the way for the clean energy transition. EU member states’ ambassadors today approved an agreement with the European Parliament on a directive and a regulation on electricity market design. This clears the way for the final adoption of the two files, which are cornerstones of the clean energy package.
The Agency will launch the related public consultation soon.
Nandita Parshad, EBRD Managing Director Sustainable Infrastructure, said: “The Trans-Adriatic Pipeline will set the foundation for an integrated gas market across south-eastern Europe and enhance the region’s strategic status as an energy hub. We believe that gas remains an important transition fuel in this region that can help displace coal and facilitate penetration of renewables.”