EC approved support for power plants on non-interconnected islands – Greece, 29 August 2016

The European Commission (EC) has approved Greek plans to support the modernization of power plants on non-interconnected islands, as it was found to be in accordance with the EU rules on state subsidies.
In December 2015, Greece informed the EC that it plans to issue a state guarantee to Public Power Corporation (PPC), which would enable the company to obtain 190 million euros loan from the European Investment Bank (EIB) needed for the modernization of power plants on 18 islands which are not connected to Greek main power grid. The loan will cover about a half of the costs necessary for the upgrade, while the other half will be financed from PPC’s own budget.

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