Eurobank and Greek Public State Partner with Lightsource bp for Major Solar Project under Greece 2.0 Plan

Eurobank A.E. and the Greek Public State have joined forces with Enipeas Single-Member S.A., a subsidiary of Lightsource bp, to advance one of Europe’s largest solar projects as part of Greece’s National Recovery and Resilience Plan, ‘Greece 2.0’. The landmark agreement, exclusively led by Eurobank, underscores the bank’s commitment to fostering renewable energy initiatives and supporting Greece’s transition to a greener economy.

The financing deal, valued at €395.15 million, signifies a significant step in Lightsource bp’s expansion efforts in Europe and Greece. Originating in the United Kingdom in 2010, Lightsource bp has since emerged as a global leader in solar energy development, with an installed capacity exceeding 8.4GW across 19 markets.

The Enipeas project, with a nominal capacity of 560MWp, is poised to become a cornerstone of Greece’s renewable energy landscape. It is expected to generate 0.90 TWh in its inaugural year, equivalent to powering 225,000 households and offsetting 379 kt of CO2 emissions annually. The project’s completion, slated for 2026, will mark a significant milestone in Greece’s pursuit of energy autonomy and environmental sustainability.

A ceremony held at Eurobank Headquarters marked the formalization of the financing agreement, attended by key stakeholders including government officials and representatives from Lightsource bp and Enipeas Single-Member S.A. The project, falling under the Green Transition pillar of the Recovery and Resilience Fund, will receive long-term financing totaling €315.34 million, with Eurobank contributing €145.34 million.

The Enipeas solar project, spanning the regional units of Larissa and Fthiotida, comprises two distinct clusters covering approximately 6,926 acres. Construction will involve the installation of 968,630 PV modules, with completion expected to bolster Greece’s position as a frontrunner in renewable energy adoption.

Stakeholder sentiments echoed the project’s significance in advancing Greece’s clean energy agenda. Nick Boyle, Group Co-CEO at Lightsource bp, expressed gratitude for governmental support, emphasizing the project’s role in delivering inward investment and promoting energy security.

Natalia Paraskevopoulou, Lightsource bp Country Head for Greece, highlighted the project’s alignment with climate objectives and the National Recovery and Resilience Plan’s objectives. Konstantinos Vassiliou, Deputy CEO of Eurobank, reaffirmed the bank’s commitment to financing sustainable ventures and its pivotal role in Greece’s economic transformation.

Eurobank’s strategic focus on supporting Greek businesses through ‘Greece 2.0’ funds underscores its dedication to fostering innovation and driving economic growth through renewable energy initiatives.

The collaboration between Eurobank, the Greek Public State, and Lightsource bp represents a pivotal moment in Greece’s renewable energy journey. With the Enipeas solar project poised to emerge as a flagship venture, stakeholders anticipate significant economic and environmental benefits, reaffirming Greece’s commitment to a greener, more sustainable future.