Funding

Since May 2011 the procedure for request submission commenced at ATE (Agricultural Bank of Greece) Leasing, in order to ensure the necessary funding through Leasing.

The procedure has been quite problematic and time-consuming, resulting in the construction of just 50 power stations, from a total of circa 500 requests, and in a time-span of about 15 months, until the Agricultural Bank was sold.

In the midst of an unstable economic climate, and while the Greek and foreign press was speculating whether the country will go bankrupt or not, the Union of Agrinio twice nearly reached an agreement of ensuring the power station construction funding from abroad.

Unfortunately, although the feasibility studies had been approved and the legal check of the producers’ info had been completed, the interested investors were finally deterred by the overall atmosphere concerning the country’s economic state.

The efforts continued through a series of constant contacts between the Union of Agrinio and the Bank’s staff members, and as a result a strategic agreement was reached with the Pireus Bank for the construction of about 450 power stations.

The procedure advanced on a rapid rate and in just 3 months all the producers’ requests were evaluated and the green light was given for the commencement of the facilities’ construction.