Mytilineos Energy & Metals has secured 400 million euros in European Investment Bank funding to accelerate renewable energy production in Greece and other EU member states.

The Mytilineos group has shaped a strategy to develop, by 2027, a portfolio of solar energy projects and battery energy storage systems (BESS) enabling an additional production capacity of approximately 2.6 GW.

The investment’s overall cost is estimated at 2.5 billion euros. All projects will be developed within the EU.

The EIB financing, linked to the EIB’s support for new investments in convergence regions where per capita income is lower than the EU average, confirms the bank’s commitment to equitable growth and convergence of living standards in the EU.

This new financing agreement stems from an EIB support package for RepowerEU, the plan aiming to reduce dependence on fossil fuel imports, accelerate the green transition, and help Europe achieve zero-carbon emissions by 2050.