The European Investment Bank (EIB) will provide €80 million to finance electricity production on 18 Greek islands in the North and East Aegean, Dodecanese, Cyclades, and the Diapontia island complex. EIB President Werner Hoyer and Arthouros Zervos, CEO of Public Power Corporation S.A. (PPC) signed the finance agreement yesterday (11.12) at a public ceremony in Athens, in the presence of Minister of Environment, Energy and Climate Change, Yiannis Maniatis. 

Plans were presented for enhanced technical assistance in Greece, through strengthening and extension of the JASPERS (Joint Assistance to Support Projects in European Regions) initiative, which has been active in Greece since January 2013; JASPERS supports projects co-financed by the European Structural Funds in key sectors of the Greek economy. 

This is a further step to ensuring security of electricity supply on Greek islands, following the €65 million agreement signed in September - known as the Cyclades Interconnector Project - to support the connection of the main Cycladic islands with the mainland interconnected system of Greece.

More information: EIB Press Release (11.12.2014); Greek News Agenda: The Cyclades Power Interconnection Project