The European Bank for Reconstruction and Development (EBRD) has signed an €18.9 million financing package to support the construction of a 32 MW solar photovoltaic park for Hellenic Halyvourgia, one of the largest steel producers in the Balkans. The project aims to increase the use of renewable energy in Greece’s industrial sector while reducing carbon emissions.
The financing package includes a €5.7 million loan from the EBRD, €9.4 million in loans from the European Union’s Recovery and Resilience Facility (RRF), and a €3.8 million contribution from Hellenic Halyvourgia. The investment is being implemented under the EBRD’s Greek RRF Co-Financing Framework as part of Greece’s “Greece 2.0” National Recovery and Resilience Plan.
Once operational, the solar park is expected to meet approximately 20 percent of the company’s electricity requirements through renewable energy. The project will help reduce exposure to fluctuating energy costs while lowering annual carbon emissions by more than 22,000 tonnes.
The initiative represents a significant step toward decarbonising Greece’s steel industry, one of the country’s most energy-intensive sectors. By supporting cleaner energy adoption in heavy industry, the project will strengthen the competitiveness and sustainability of domestic steel production.
The investment also supports Greece’s broader energy transition goals by increasing renewable energy use across industrial operations. It demonstrates how targeted financing can help established manufacturers modernise their energy infrastructure while maintaining production capacity and employment.
Although the EBRD’s mandate in Greece concluded at the end of 2025, the bank continues to implement previously approved projects and manage its existing portfolio. To date, the EBRD has invested more than €8.9 billion across various sectors of the Greek economy, supporting long-term economic growth and sustainable development.
