Greek Businesses Can Now Apply for Funding for Energy Efficiency Upgrades

The Greek government’s platform, which allows companies to submit applications for funding to help cover the cost of energy efficiency upgrades, has opened.

Part of the NextGenerationEU program and funded through the Recovery and Resilience Fund (RRF), it has a budget of €176.75 million and is designed for micro, small, medium large and very large companies in Greece.

The purpose of the funding is to help companies fund energy efficiency upgrades such as thermal insulation and heat pumps, and the replacement of energy intensive equipment like ovens and refrigerators.

In order to be eligible for funding, companies must have a Greek VAT number and be active in specific sectors such as services, catering, tourism, or specific trades, operate as a bakery or confectionary.

Importantly, tourism enterprises with less than 200 beds are eligible to participate.

Proposals for upgrades cannot surpass €500,000, while the tourism, trade and service sectors are limited to €250,000. The funding rate may reach as high as 65%, dependent upon the type of equipment and size of the enterprise.

Applications will be assessed on a first-come-first-serve basis and more information can be found here.