• Loans from EBRD and EU’s Recovery and Resilience Facility will support construction of 32 MW solar park
• Project will result in about 20 per cent of steel producer Hellenic Halyvourgia’s electricity needs being met using renewable energy
• Solar park will help to decarbonise one of Greece’s most energy intensive industrial sectors
The European Bank for Reconstruction and Development (EBRD) has signed a financing package to support the construction of a 32 MW solar photovoltaic park in Greece, which will supply renewable electricity to the production facilities of Hellenic Halyvourgia, one of the largest producers of steel products in the Balkans.
The financing package totals €18.9 million and is made up of (i) a €5.7 million loan from the EBRD (ii) €9.4 million in Recovery and Resilience Facility (RRF) loans channelled via the Greek authorities, and (iii) Hellenic Halyvourgia contributing €3.8 million of its own funds to the project.
The project was signed under the EBRD’s Greek RRF Co-Financing Framework, implemented as part of the 'Greece 2.0' National Recovery and Resilience Plan and funded by the European Union’s NextGenerationEU programme.
The project will help to decarbonise one of the country’s most energy intensive industrial sectors while strengthening the competitiveness and resilience of domestic steel production. The solar park is expected to cover around 20 per cent of the company’s electricity needs, reducing its exposure to volatile energy prices and cutting its annual carbon emissions by more than 22,000 tonnes.
The project will support Greece’s national energy and climate objectives by increasing the use of renewable energy in heavy industry and will contribute to the country’s Recovery and Resilience Plan. It also shows how targeted financing can enable established industrial companies to invest in cleaner technologies while safeguarding jobs and maintaining their role in the domestic value chain.
The EBRD’s mandate in Greece ended on 31 December 2025, but the Bank is still signing projects approved in 2025 and managing its portfolio of projects in the country. The EBRD is one of the country’s key institutional investors, having invested more than €8.9 billion across all sectors of the Greek economy.
Source: EBRD
