Interest rate subsidies for competitive RES projects

RES projects deemed competitive, based on tariff levels, will be entitled to loan interest rate subsidies as compensation covering the gap between rates offered in the Greek market and far lower European rates, deputy finance minister Theodoros Skylakakis has informed.

The deputy minister offered the update at a presentation yesterday of the National Bank of Greece’s “Ethniki 2.0” plan through which the bank will offer an extensive range of financing services to investors, small, medium and large enterprises opting to utilize various investment benefits offered by the country’s recovery fund, dubbed Greece 2.0.

The subsidy support covering the interest rate gap will be made available for new projects to be developed following the launch of Greece 2.0 support programs, the deputy minister clarified.

Skylakakis stressed that only competitive RES projects will be eligible for these subsidies, the logic behind the support being to cover the financing cost disadvantage faced by RES investors in Greece compared to investors of this domain in other parts of Europe.