| Project Detail |
The project concerns the deployment of an Electric Vehicle Charging (EVC) network and the development of Hydrogen infrastructure for transport. The EVC network will include fast charging type. The Hydrogen transport infrastructure includes an electrolyser for hydrogen production, as well as filling terminal to load the trailers, hydrogen trailers and Hydrogen Refuelling Stations (HRS).
Additionality and Impact
The project concerns the deployment of alternative fuel infrastructure for zero emission vehicles (ZEV). The project contributes to the EIBs objective of sustainable transport, decarbonisation, development of TEN-T infrastructure thereby supporting EU policy objectives. The project is fully aligned with the European Commission sustainable transport and low-emission mobility policies.
The ZEV market including electric and hydrogen vehicles is at a very early stage of development in Greece with significant operational performance uncertainty and high upfront costs.
The ZEV market is subject to network effect and depends upon the size and availability of the associated public EV charging and Hydrogen Refueling stations network, which is at a very early stage in Greece.
This project contributes to the deployment of alternative fuels, thereby contributing to reducing the negative environmental externalities of road transport, in the form of the reduction of CO2, air pollutants (Nitrogen Oxides, Particulate Matter), also aiming to reduce the fuel consumption costs for transport operators, mostly Small and Medium Enterprises, and consumers.
The EIB would provide an adequate financing to the borrower, allowing it to further diversify its financing sources. The Banks tailor-made product would provide the company with a longer maturity than the ones available on the market and more aligned with the expected lifetime of the project, as well as more favourable terms under various other dimensions (such as longer availability and grace period).
The EIBs contribution to this investment is expected to materially contribute to the Promoters effort to meet its ESG targets and crowd-in Green Finance investors. The EIBs financing would also provide a signalling effect on the soundness and quality of the project, facilitating funding from commercial banks.
Finally, the EIB decision to finance the project is key for the promoters application to the CEF Alternative Fuel Infrastructure Facility ("AFIF") grant.
Objectives
The main objective of the project is to accelerate the transition to a zero-emission electric and hydrogen-powered mobility in Greece by rolling out the associated electric charging and hydrogen refuelling infrastructure.
Sector(s)
Transport - Transportation and storage
Proposed EIB finance (Approximate amount)
EUR 40 million
Total cost (Approximate amount)
EUR 84 million |
