Photovoltaic park financing
Loans or equipment leasing for businesses, professional farmers and energy-community participants developing photovoltaic parks to sell the electricity they produce.
Diese Finanzierungsmöglichkeit ist derzeit auf Englisch beschrieben.
A loan can cover up to 80% of your photovoltaic project's total budget, including VAT unless you are exempt. Eligible costs include equipment and installation, site preparation and other energy infrastructure, and grid connection. You can also refinance an existing loan used to install an operating photovoltaic park.
The loan lasts up to 18 years and is paid out in three instalments as the project progresses. The final two disbursements must be completed within 12 months of the first. Repayments cover principal and interest monthly or quarterly; a grace period of up to 12 months is available. Interest varies with three-month Euribor, plus a margin set individually according to your own contribution and additional security. The loan also carries the applicable levy under Greek Law 128/1975.
Equipment leasing can cover up to 100% of the equipment value, including VAT, when that value is strictly above €100,000. It covers items such as photovoltaic panels, inverters and substations. Installation, grid connection and infrastructure works are excluded. The equipment may be installed on owned or rented property, and the lease lasts up to 18 years.
Lease payments are monthly or quarterly and cover principal, interest and equipment insurance premiums. Eurobank Leasing owns the equipment during the lease; at the end you pay a nominal amount to acquire ownership. Interest varies with three-month Euribor plus a predetermined margin that stays fixed throughout the lease. The Law 128/1975 levy does not apply to leasing.
Eligibility
You can apply through one of these routes:
- A small or medium-sized business with turnover up to €5 million, expanding into sales of electricity from photovoltaic systems.
- A new or newly established business investing in photovoltaic parks.
- A professional farmer expanding into sales of electricity from photovoltaic systems.
- Participation in an energy community.
The project must produce electricity for sale. Self-consumption and net metering are excluded from both the loan and leasing options.
For the initial assessment, provide a land title or a lease lasting at least as long as the loan, a site survey with EGSA ’87 coordinates, grid connection terms from DEDDHE (the Greek electricity distribution network operator), and environmental approval or an exemption. Photovoltaic projects above 1 MWp also need an electricity producer certificate. Prepare a business plan with projected results over 20 years and a detailed budget and technical description of the equipment and construction work.
Both financing routes require you to assign rights under the DAPEEP electricity-sale contract and your equipment insurance policy to the financier as security. In specified cases, an energy sale contract with an aggregator, which represents producers in the electricity market, must also be assigned. Equipment insurance must cover fire, earthquake, theft, short circuit, natural disasters and loss of profits. You may use Eurolife FFH or another insurer operating in Greece.
How to apply
- Status
- Laufende Antragstellung
- Beschränkungen dieser Antragsrunde
- Apply through a Eurobank business adviser; submit documents at a branch or by email.
Contact a Eurobank business adviser through the appointment route on the official product page. Submit the initial project documents at a branch or by email for assessment. The application can start with grid connection terms; the final connection and sale agreements are required as the project progresses.
For equipment leasing, also provide a detailed supplier offer showing the equipment, payment terms and delivery time, and a leasing-company proposal if one exists. At the more advanced implementation stage, submit the DEDDHE connection agreement, DAPEEP electricity sale agreement, and small-scale works approval or building permit. If you provide property as security through a registered pre-notation of a mortgage, submit details of that property.