EIB offers funding of €25 mln to Sunlight
Specialist battery company Sunlight, a member of Olympia Group, will significantly increase manufacturing capacity and create new jobs at its state-of-the-art plant in Xanthi, northern Greece, following a 25-million-euro, 10-year loan from the European Investment Bank (EIB) which was confirmed in Athens on Friday.
The EIB’s financing will support an innovative investment project to increase the production capacity for lithium batteries, expand research and development capabilities, as well as allow the company to produce vital components which are currently outsourced.
The project is expected to create 205 new skilled jobs in Xanthi, a less developed region of the EU in terms of per capita GDP, highlighting the EIB’s commitment to equitable growth and regional cohesion. This is a second round of EIB support for Sunlight – the first, a €12.5 million loan, was agreed in 2018.
The operation is part of the EIB’s dedicated package of support to REPowerEU and the Green Deal Industrial Plan for the Net-Zero Age.
