The European Investment Bank (EIB) has committed €400 million to support a significant new investment for Mytilineos Energy & Metals, which will accelerate renewable energy production across Greece and other EU countries.

Mytilineos will deploy a new portfolio of solar PV and battery storage systems (BESS) projects in the period through 2027 that will add capacity of approximately 2.6GW. The investment’s value is estimated to total €2.5 billion with projects rolled out across the EU.

The new facilities will be located in various less developed and transition areas across Greece and the EU.

The EIB’s financing will thus support new investment in cohesion regions where per-capita income is lower than EU average, thus affirming the EU bank’s commitment to equitable growth and the convergence of living standards.