The purpose of the grant scheme “PRODUC-E GREEN”, which has already been announced since May 2023, by virtue of the Joint Ministerial Decision (JMD) of the Ministers of Finance, Development & Investments and Energy & Environment (officially published in the Government Gazette B’ 3156/12-05-2023) and is financed from the Recovery and Resilience Fund, is to support investment projects related to the production in the green industry sector. The programme focuses mainly on the sector of electromobility, renewable energy sources (RES) and energy-saving products, with the ultimate aim of developing new technologies, promoting innovation and strengthening the competitiveness of enterprises at domestic and international level.

This action is part of a general strategy aiming at the green energy transition and the sustainable development through the integration of renewable energy sources and the implementation of innovative energy-saving methods, objectives which are also reflected in the revised National Energy and Climate Plan (NECP), to be officially submitted in June 2024.
Already with the recently published under No. YPEN/YDEN/129793/1531 JMD (Government Gazette B’ 6974/12-12-2023), which amends the initial announcement of the Produc-e Green Action, the application deadline has been extended until 15 February 2024, especially due to the increased interest on behalf of the investors.

The beneficiaries of the grant scheme are legal entities, classified either as small and medium-sized enterprises or large enterprises, on the basis of the criteria stipulated in the EU Regulation No. 651/2014, which will have at least one of the eligible Activity Code Numbers including in the Annex I of the JMD, as their main activity at the beginning of the investment project.

The percentage of the grant to be awarded depends on the size of the entity submitting the application (whether it is an SME or a large enterprise as mentioned beforehand) and on the region/regional unit in which the investment will be implemented. In that context, depending on the conditions fulfilled in each case, the percentage of the grant to be attributed, may range from 40% to 70%, subject to more specific provisions for certain categories of investment.

The cost of the investment project shall be covered by external financing at a rate of at least 20% of the total investment budget. Nevertheless, the beneficiary’s own financial contribution shall amount to at least 25%, either in the form of equity or external financing (bank loan), but without subject to public funding.

After the deadline for submission has elapsed and the evaluation of the applications has been completed, a decision for approval will be issued, provided that the conditions of the grant scheme, as stipulated in the JMD, are fulfilled and until the available funds are exhausted. Once the approval decision has been issued, the beneficiary may request an advance payment of up to 40% of the grant awarded, provided that it submits a letter of guarantee for the advance payment from a banking institution.