The loan agreement between DEDA (DEPA’s subsidiary) and the European Investment Bank of 48 million Euros was signed today.
The agreement was signed in the presence of the Minister of Environment and Energy, Mr. Giorgos Stathakis
The loan agreement signed between the European Investment Bank (EIB) and DEDA, DEPA’s subsidiary, concerns a 48-million-euro loan with the following key points:
4-year gratis period
20-year repayment period
The loan is part of the tripartite funding of the project (NSRF 2014 -2020, EIB and own funding) to build natural gas distribution networks in 18 cities of three Regions of Greece, namely East Macedonia and Thrace, Central Macedonia and Continental Greece (Sterea Ellada). The construction shall include the installation of 1,215 km of Natural Gas Networks with an annual transmission of 6.2 TWh for a 20-year time period, covering the needs of 124,000 buildings.
The agreement was signed on behalf of DEDA, by its CEO, Mr. Th. Terzopoulos, and on behalf of the EIB, by Mr. Massimo Novo and the head of the Bank in Greece and Cyprus, Mr. I. Kaltsas.
As announced, DEPA proceeded on 1/1/2018 to operationally and legally splitting the distribution network management from the other activities by establishing a new company, called DEDA SA (Public Corporation of Gas Distribution Networks SA), which shall cover gas distribution.
DEDA is the Operator of the Natural Gas Distribution Networks for Greece, except the Regions of Attica, Thessaly and Thessaloniki Urban Area.