A financial-support plan backing energy projects, the circular economy – waste elimination and continual use of resources – as well as pivotal infrastructure features in a wider support program announced by government officials yesterday for the economy and enterprises.
The support plan, to involve public and private-sector money, will seek to achieve economic regrowth as lockdown measures are gradually eased.
Development and Investment Minister Adonis Georgiadis presented the various facets of the support program yesterday following a speech from Prime Minister Kyriakos Mitsotakis on the government’s plan for a restart of the economy.
The government intends to provide state support worth 400 million euros for the support plan’s section concerning energy, the circular economy and pivotal infrastructure. The amount will be channeled into the market by the Hellenic Development Bank.
In addition, this support fund will also seek to attract private-sector capital worth 600 million euros and ultimately generate energy-sector investments totaling approximately 3 billion euros.
Renewable energy and energy storage projects will be the main focus of this part of the support program, while qualification will be based on transparent criteria and banking rationale, officials noted.
The support plan’s section for energy, the circular economy and pivotal infrastructure, along with another section supporting strategic sectors of the economy, share the top spot in terms of state support – 400 million euros for each – among eight sections in total.
The total sum to be provided by the state for the support plan’s eight sections amounts to 1.8 billion euros, projected to snowball into investments worth 5 billion euros overall.