EIB loans €390M to DEPA for solar projects

The European Investment Bank (EIB) is providing €390 million to Greek energy company DEPA Commercial SA for the development and operation of solar farms across Greece. This funding covers 75% of the total estimated cost of €521 million for the new PV sites. DEPA Commercial will implement PV farms in western Macedonia, Thessaly, and central Greece, adding approximately 800 megawatts of renewable energy. This is enough to power around 278,000 households annually. This funding is part of the EIB’s broader support for the EU’s RepowerEU plan, aimed at reducing fossil-fuel dependence and achieving climate neutrality by 2050. Since 1964, the EIB has invested over €4.3 billion in Greek energy projects, enhancing grid connections and renewable energy capabilities.