Greece gets €235m to improve electricity network

An EU bank is providing a loan worth €235 million (£197.3m) to support the electricity network improvement in Greece. The cash will help Greek Public Power Corporation (PPC) renovate the […]

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By Priyanka Shrestha

An EU bank is providing a loan worth €235 million (£197.3m) to support the electricity network improvement in Greece.

The cash will help Greek Public Power Corporation (PPC) renovate the electricity distribution network as well as extend around 186,000 connections throughout the country.

The programme, which covers the period 2013-15, will be managed by the Hellenic Electricity Distribution Network Operator, a 100% subsidiary of PPC established in 2012.

The European Investment Bank (EIB) said: “The investment programme will benefit consumers and suppliers by improving the electricity distribution infrastructure and increasing the effectiveness of electricity supply in meeting demand.”