en.Wedoany.com Reported - The European Bank for Reconstruction and Development (EBRD) has signed a €18.9 million financing package for the construction of a 32 MW solar photovoltaic park in Greece. The park will directly supply renewable electricity to the production facilities of Hellenic Halyvourgia, one of the largest steel producers in the Balkans, covering approximately 20% of the company's electricity needs.

The financing package consists of three components: a €5.7 million loan from the EBRD, €9.4 million from a loan disbursed through the Recovery and Resilience Facility (RRF) via Greek authorities, and €3.8 million contributed by Hellenic Halyvourgia from its own funds. This structure aligns incentives among all parties, demonstrating the company's direct stake in the project's success.

The transaction was signed under the EBRD's Greek RRF co-financing framework, part of the "Greece 2.0" National Recovery and Resilience Plan, funded through the EU's NextGenerationEU program. The EBRD's formal mandate in Greece ended on December 31, 2025, but it can still sign previously approved projects and manage its existing portfolio. The RRF co-financing framework allows it to continue providing institutional expertise for Greek infrastructure investments.

Once operational, the project is expected to reduce carbon emissions by over 22,000 tonnes annually, a direct result of replacing fossil fuel-related electricity from the Greek grid. For the steel industry, a highly electricity-intensive sector, generating one-fifth of its own power through fixed-cost solar assets helps reduce exposure to wholesale energy price volatility.

Steel production is one of Greece's most energy-intensive industrial activities and a key target for decarbonization. The EBRD stated that the project demonstrates how established industrial companies can invest in cleaner technologies while protecting jobs and maintaining their role in the domestic supply chain. With total EBRD investments in the Greek economy exceeding €8.9 billion, this project represents one of its final contributions under this mandate.

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