The European Investment Bank provides funding of 12.5 million euros to the world-renowned Greek producer of SUNLIGHT batteries to develop specialized production and innovation.
It is expected that the new SUNLIGHT plant will be the largest lead lead plant in Europe
The expansion will reduce production costs and accelerate the opening of exports to new markets
For the first time support for the Greek industry under the investment plan for Europe (Juncker Plan)
SUNLIGHT, member of the Olympia Group, increases the production potential of its most modern Xanthi plant after a loan of 12.5 million euros confirmed by the European Investment Bank (EIB) after signing the contract earlier today in Athens. This loan is the first investment support granted to Greece under the new EIB Financing Initiative, supported by the European Fund for Strategic Investments (ETF), which aims to mobilize investments worth at least EUR 500 billion by 2020.
The new investment will support the purchase of new specialist production equipment, strengthen research and development of new lead-acid and lithium-ion battery models in one of the most modern factories in Europe and increase the Company's working capital.
The event was attended by Deputy Prime Minister and Minister of Economy and Development Yiannis Dragasakis and said: "In my presence at today's event, I want to express government support for entrepreneurship that overcomes creative difficulties and accidents that can happen in a certain way that protects work and respects employees .
I would also like to express the government's support for the Thrace region, in which this company was established, and its development is crucial for the sustainable and balanced regional development of the country. "
"SUNLIGHT is a leading manufacturer of industrial batteries that exports 98% of its production in more than 100 countries around the world." Support provided by the European Investment Bank will enable SUNLIGHT to promote innovation and stimulate the development of technologically advanced energy storage products crucial for the renewable energy sector, chain SUNLIGHT is pleased to be the first Greek company to benefit from the new direct crediting initiative of the EIB, which facilitates the financing of projects by dynamic companies operating in competitive markets, "said managing director SUNLIGHT Vasilis Billes.
"Innovations in energy storage systems are key to improving energy efficiency and competitiveness in various sectors of the economy." In this context, the European Investment Bank is pleased to support SUNLIGHT's new investments in innovation and production development. A seven-year loan of EUR 12.5 million is the first a direct loan for the Greek industry supported by the Juncker Plan and aims to meet the financial needs of companies that focus on innovation, proving more EIB support for investment across Greece that can lead to economic transformation, "said Jonathan Taylor, vice president of the European Bank investment.
Financing the SUNLIGHT expansion plan, one of the leading Greek export companies, will create new jobs and allow it to continue to innovate
With more than 840 employees, SUNLIGHT develops, manufactures and recycles batteries for a wide variety of applications such as forklifts and other industrial vehicles, unrelated renewable energy systems and intelligent power grids, telecommunications and standby rail systems. Over 98% of products manufactured by SUNLIGHT are exported to over 100 countries around the world.
"We welcome the EIB's direct lending to SUNLIGHT, which really excels in exporting worldwide." This new initiative of direct EIB loans under the Juncker Plan is of great importance for the country's development, and BSE also calls on other companies operating in competitive markets to take advantage of with this important financial initiative to support your investment plans, "said Akis Scherzos, BSE general director.
It is expected that the new investment, supported by the EIB loan, will create new jobs in the region with high unemployment, and will significantly increase research and development activities, as well as cooperation with local and foreign industry partners, universities and other research institutions.
The first Greek industrial company benefiting from the new EIB corporate finance program under the Juncker Plan
The EIB loan is the first direct financing of Greek industrial investments as part of the investment plan for Europe (the Juncker project).
The EIB special investment group for Greece is in talks with specific Greek companies to provide direct financing in the future and wants to talk directly with enterprises about the new financing opportunities provided by the European Investment Fund under the Investment Initiative Plan Europe.