Public Power Corporation announces that on December 22nd, 2016, the first loan agreement «HIGH VOLTAGE SUBSTATIONS AND SMART METERING», amounting to € 40m, was signed with the European Investment Bank, within the framework of a total loan facility of € 85 m, for investments aiming at the modernization and reinforcement of the Distribution Network in the mainland and the islands of Greece (Interconnected System and non-interconnected islands).
This financing will support the capex program that includes the installation of 40 klm of submarine cables, High and Medium Voltage Substations as well as the development and installation of a pilot system of smart meters in 170,000 Low Voltage customers, thus significantly improving the credibility of electricity supply and its metering.
PPC Group has a long-term relationship with the European Investment Bank, which is 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, December 23, 2016
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