PPC reaches financial close on 230 MW solar PV project in Ptolemaida

Public Power Corp. (PPC) has obtained EUR102.4 million (US$111 million) for the development of 230 MW of solar photovoltaic (PV) projects in Ptolemaida, Greece, with at least EUR28.5 million (US$31 million) provided by the European Investment Bank (EIB).

Together, the EIB, Eurobank, and the National Bank of Greece supplied 70% of the long-term facilities and 100% of the medium-term VAT financing.

The three solar farms are referred to individually because they won separate contracts in previous rounds of renewable energy bids in Greece.