Four major Greek banks, Piraeus Bank, National Bank of Greece, Alpha Bank, and Eurobank, employing EU Recovery and Resilience Greece 2.0 loans, reiterated their support for the development plan of the National Natural Gas System (NNGS) and the role of DESFA in establishing Greece as an energy hub in the wider region and advancing the country’s decarbonization through scaling up the hydrogen value chain with the development of hydrogen infrastructures.
The 4 Greek banks will share the role of Mandated Lead Arranger, while National Bank of Greece and Piraeus Bank shall in addition act as Coordinators and Alpha Bank as Agent. The tenor of the loan agreement is fifteen (15) years, and its purpose is to finance projects already included in the Ten-Year Development Plan of the NNGS 2024-2033. For these projects, €627 million have been deemed eligible to obtain RRF financing and are significant investments in infrastructure that will upgrade and expand the NΝGS, while ensuring the hydrogen readiness of the investments and promoting the diversification of supply sources and security of supply of the country and the wider region.