Eurobank EFG financed around 50% of the Greek households who have installed photovoltaic systems, conquering a leadership position in the market. It has thus offered over €50 million liquidity to the market only for the installation of household photovoltaic systems.
In particular, following the announcement of the Special Program for photovoltaic installations (PV) by the Government in July 2009, Eurobank was the first bank to launch a tailor made mortgage loan for residential photovoltaic systems, offering the opportunity to every citizen who covers the requirements, to make use of the incentives offered by the Program, and install a PV system on his roof or terrace, through a 100% financing by the Bank.
Furthermore, since January 2010 applicants could access Eurobank’s financing, assigning their relevant PPC (Public Power Company) contract to the Bank.
According to available data provided by the PPC (April 2011), there are approximately 2.500 photovoltaic systems installed and connected to the electric power grid. Around 80% of these installations have been financed by the banking sector.
Eurobank has granted loans for approximately 50% of the PV systems installed with bank financing, ranking first in this market.
Eurobank also participates in the management of the subsidized program «Εξοικονόμησηκατ’ οίκον» (“home economy”) and -through its network- provides information and support to interested parties. The Bank has approved 68% of the loan applications, which corresponds to more than 3.700 potential beneficiaries and has thus become a significant partner to the Program The Program aims to improve residential energy efficiency, such as the reduction of oil fuel consumption for heating and of electricity for cooling homes, with the installation of proper wall insulation and window/frames replacement.
Having a wide variety of Green Household loans, and a strong ecological orientation, Eurobank contributes to the Greek households’ quality of life, energy and cost saving while at the same time, protects the environment.