How to unlock green finance in Greece & Cyprus
Savings and Automation with ESG
Elia Go prepares a bank‑ready ESG pack (assessment, plan, KPIs, evidence) aligned to the Hellenic Development Bank’s Green Co‑Financing Loans and interbank ESG practices, converting basis‑point discounts and subsidies into tangible interest savings for SMEs.
In Greece, the HDB Green Co‑Financing Loans provide 40% interest‑free capital and a two‑year interest subsidy (up to 3%) on the interest‑bearing 60% for eligible green transition investments, improving affordability and approval odds when projects qualify. See HDB program · EU portal reference
Greece: HDB Green Co‑Financing
Hellenic Development Bank’s Green Co‑Financing provides 40% interest‑free capital and a two‑year interest subsidy (up to 3%) on the interest‑bearing 60% for eligible green mobility, energy efficiency, and RES projects. Official HDB page · EU portal fact sheet
Bank partner pages detail practical terms such as amounts up to €8m, tenors up to 10 years, and Euribor‑based pricing on the banked tranche under the same scheme. Example partner details
Sub‑programmes include Green Mobility, Energy Efficiency/Upgrades, and Renewable Energy, with eligibility and repayment options described in the official materials. Download HDB fiche (EU)
Cyprus: Interbank ESG with Synesgy
Cyprus’ interbank ESG initiative uses Artemis Credit Bureau and the Synesgy platform so banks can incorporate a shared ESG profile alongside credit risk in new loan origination. Synesgy for Businesses · Artemis ESG
Synesgy confirms that Artemis shares ESG profiles with banks, and companies holding a valid ESG certificate with an action plan can improve approval odds and potential terms. Program details
Public updates report strong SME uptake in the first year of the interbank project, highlighting its role in sustainable finance and transparent risk reporting. Coverage of first‑year results
Why the math works
Basis‑point economics: \( \text{savings} = P \times d \) where \( P \) is average principal and \( d \) the rate discount (e.g., 60 bps \( = 0{.}006 \)).
Net ROI: \( \text{ROI} = \frac{\text{savings} – \text{fee}}{\text{fee}} \) assuming €3{,}000/year for tooling and verification.
\[ P_{\min} = \frac{\text{fee}}{d} \]
At 60 bps and €3000/year, break‑even is \( \approx €500{,}000 \); above that, savings exceed the fee and the lender‑ready pack helps credit teams move faster.
Where to apply it
🔌 Energy CAPEX (GR)
PV, HVAC, insulation: eligibility under HDB Green Co‑Financing sub‑programs with bank‑ready packs and KPI tracking.
📊 Impact loans
Sustainability Linked Loans objectives and lender‑agreed KPIs to align pricing benefits and annual progress attestations. Use Synesgy in Cyprus.
✅ ESG assessment
Cyprus interbank ESG profiles (Artemis/Synesgy) used at origination; Elia Go prepares evidence and an action plan.
