Public Power Corporation SA announces that today November 3rd, 2015, the second loan agreement amounting to €110 million was signed with the European Investment Bank, within the framework of a total approved facility of €190 million aiming at investments in new power generation projects in the non-interconnected islands. The first loan agreement amounting to €80 million was signed on December 11th, 2014.
The loan facility concerns the construction of a power plant in southern Rhodes of 115 MW net capacity and development projects in seventeen Autonomous Power Stations in various islands, namely Santorini, Lesvos, Kalymnos, Samos, Kythnos, Donoussa, Ereikousa, Othonoi, Astypalaia, Skyros, Karpathos, Ikaria, Limnos, Kos, Anafi, Serifos and Megisti, aiming at the reliable electricity supply of these islands and achieving the replacement of old technology units with new more environmentally friendly ones.
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 as well.
Athens, November 3, 2015