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Energy efficiency loan for businesses
Energy autonomy with solar panels
Discover the features
What are the loan amount and collateral
Up to €7.5 million
We offer financing up to €7.5 million for the purchase and installation of photovoltaic systems (without VAT) through our partner ecosystem. The PV system can be installed:
- At your place of business
- At a remote location (virtual)
We assess and approve your application based on:
- Your business profile.
- The investment budget.
- The collateral you offer.
EIF guarantee for 80% of the loan
Secure an EIF guarantee for 80% of the loan you take out.
Lower collateral
To get the loan, you can offer as collateral:
- Personal guarantees. We may also ask for corporate guarantees.
- Assignment of the insurance policies covering the PV system installations and equipment.
You may also offer cash collateral (pledged deposits) and benefit from a lower interest rate.
What’s the interest rate
Fixed or floating interest rate
Choose fixed or floating rate for the entire loan term.
From 4.50% fixed rate
The fixed rate depends on the collateral you are offering, and may be:
- 4.50%, with 20% pledged deposits offered.
- 4.75%, with 10% pledged deposits offered.
- 5.00% without pledged deposits.
Floating rate with 1.80%+ spread
The floating rate depends on the collateral you are offering, and may be based on:
- Euribor 3Μ + 1.80% with 20% pledged deposits
- Euribor 3Μ + 2.10% with 10% pledged deposits
- Euribor 3Μ + 2.40% without pledged deposits
Law 128/1975 levy
According to Law 128/1975, all loans are subject to a levy that is paid to the Greek State.
For the energy efficiency loan for businesses the levy currently stands at 0.60%.
Have a look at the deposit and loan interest rates.
Staged disbursement
The energy efficiency loan amount is disbursed in 2 instalments:
- 80% of the amount upon receipt of invoices confirming completion of the installation. The amount is paid directly to the contractor.
- 20% of the amount upon receipt of a certificate of electrification issued by HEDNO.
What are the loan term and repayment method
From 2 to 10 years with a grace period
Repay the PV systems energy efficiency loan in 2 to 10 years.
You can get up to 12 months grace period, with no interest capitalisation. Meaning that during your grace period you pay interest only, on a quarterly basis.
Instalment payment every 1, 3 or 6 months
Every 1, 3 or 6 months you pay equal:
- Instalments that gradually repay capital.
- Interest-bearing instalments repaying both interest and capital.
You choose whether you want to pay the instalments:
- Automatically with a standing order from your business account
- Online through business web banking
- At one of our branches
Early loan repayment
You can repay your loan earlier in full or in part at any time, without any penalties, if you have opted for a floating rate.
If you have opted for a fixed rate, you will pay a penalty.
What are the other fees
For the processing fee
You pay a lump sum depending on the loan amount:
- €400 for amounts up to €50,000
- €500 for amounts from €50,000.01 to €150,000
- €800 for amounts from €150,000.01 to €500,000
- €1,200 for amounts from €500,000.01 to €1,000,000
- €3,000 for amounts over €1,000,000.01
Technical due diligence fees
Apart from the fees to Alpha Bank, you also pay:
- €150+ for budget cost verification.
- €300 for assessment of the investment’s viability.
- €150+ for certification of work progress, installation, and operation by an engineer.
- Costs for the service of collateral arrangements, if you are offering collateral.
VAT and engineer travel expenses are added to the fees, as appropriate.
Mandatory PV system insurance
You must insure the PV system installations and equipment against theft, fire, natural disasters and mechanical failure, and bring an insurance policy in force to the branch.
Optional borrower insurance
You may also get the Business owner loan protection insurance plan we offer in cooperation with Generali. This way, if something unexpected comes up, your outstanding loan balance and accrued interest will be paid on time.
What you get with net billing and zero feed-in
Energy compensation method
Net billing is a regulatory mechanism for financial compensation for renewable energy systems, such as PV systems.
It enables your business to:
- Use the energy generated by the PV systems.
- Sell any surplus energy to the grid.
- Store any surplus energy in batteries for future use or sale.
Electricity self-consumption system
Zero feed-in is a PV system set up that enables your business to:
- Limit the surplus energy that is fed back to the grid.
- Consume all the energy generated, without feeding energy back to the grid.
- Store any surplus energy in batteries for future use or sale.
Boosted revenues
- Lower energy bills ─ Reduce your dependence on the grid by generating electricity with your own systems.
- Financial compensation ─ Get compensated for feeding energy back to the grid instead of receiving a kWh credit.
- Tax benefits ─ Pay no tax on net billing revenues and amortise the investment capital with significant tax benefits.
- Option to store energy ─ Store the energy you produce in batteries and sell it back to the grid.
Green consciousness and sustainability
- Lower CO2 emissions ─ Boost the transition of your business to renewable energy sources and reduce your dependence on fossil fuels. This way you play a part in achieving global environmental goals and improve your corporate image and responsibility.
- Autonomy ─ Secure energy autonomy. This way you manage the energy you’re using more efficiently and reduce the need for external supply.
- Grid stabilisation ─ Contribute to the stability of the electrical grid, especially if your business is located at an area where using excessive energy might cause problems to local infrastructure. This way you enhance your reliability.
What you need to take out a loan
Apply provided you...
- Have a business of any form or a private-interest energy community (excluding public legal entities or local authorities).
- Plan on getting the PV system from our partner ecosystem.
- Have a business operating license in force.
- Are the legal representative of the business.
- Hold a business sight account with Alpha Bank.
- Have booked an appointment at a branch near you.
Have at hand...
- The supporting documents to apply (only in Greek).
You’ll also need the supporting documents to start banking with us or to update your details, if you:
- Are a freelancer / own a sole proprietorship.
- Own an SA, OE, PC, LTD or EE.
- Want to update your personal details.
Explore other options
Reduce your carbon footprint
Environmentally responsible choices
Find solutions that help you adopt an environmentally responsible approach and play your part in the fight against the climate crisis.
Reduce the carbon footprint of your business by installing and operating PV systems and upgrading your energy infrastructure.
Favourable terms
Protecting the environment and reducing our ecological footprint is a priority for all of us. We are boosting your green transition by:
- Offering specially designed products with more favourable terms.
- Supporting your energy transition through our partner ecosystem.
- Participating in all state subsidised programmes.