Piraeus Bank has proudly joined forces with 17 other leading financial institutions by signing a Memorandum on bank lending for energy infrastructure renewal projects. This pivotal step reaffirms the bank’s unwavering commitment to financing the advancement of distributed and renewable energy, along with energy-efficient technologies.
This initiative is not only crucial for national security but also heralds new avenues for comprehensive energy development across Ukraine. The Memorandum was signed during a prestigious banking forum organized by Ekonomichna Pravda.
To strengthen this initiative, the National Bank of Ukraine has streamlined lending requirements for the energy sector, the government has broadened state support, and the banking sector stands ready to financially empower these transformative projects.
"Our contribution to the resilience of the Ukrainian economy during these challenging times opens up unprecedented opportunities for the sustainable development of the energy sector," remarked Piraeus Bank CEO Yannis Kyriakopoulos.
Financing will be available for businesses engaged in constructing solar, wind, biogas, gas turbine, and gas piston power plants, as well as industrial batteries and cogeneration plants. Micro and small businesses can also access loans for energy-efficient doors/windows, solar panels, and more.
The loan amounts will vary based on the business segment:
- Micro businesses: Up to EUR 0.5 million
- Small businesses: EUR 1-1.5 million
- Medium and large businesses: EUR 10-25 million
Clients will need to contribute between 10% and 50%, depending on the project size, equipment costs, and other factors. Loans will be granted for terms of up to 5-7 years.
Together, we can forge the future of Ukraine's energy independence!
