In the context of the "Exoikonomo - Epichiro" Action of the Recovery and Resilience Fund (RRF) by the Ministry of Environment and Energy, the new program aims at the energy upgrade of buildings of low energy efficiency and interventions other than those on the building structure, which will contribute significantly to energy saving in line with the country's energy targets.

The total budget - state expenditure amounts to €176,750,000. 

More about Exoikonomo – Epichiro

The subsidized budget (state and private participation, excluding VAT) of each investment proposal of a potential aid beneficiary: 

  • may not exceed the amount of five hundred thousand Euro (€500,000) in the case of the tourism sector
  • may not exceed the amount of two hundred and fifty thousand Euro (€250,000) in the case of the Trade and Services sector.

Note that in the case of aid for the provision of consulting or ancillary services in total, said aid may not exceed seven percent (7%) of the subsidized budget of the investment plan, with the maximum total of ancillary expenses covered reaching €30,000

In any case, the subsidized budget (state and private participation, excluding VAT) may not exceed the product of €1.45 multiplied by the total estimated annual primary energy savings (kWh). Where the ratio of subsidised budget to annual primary energy savings is less than 1.45, the eligible amounts shall be reduced proportionately.

 
Enterprises (small, medium and large) in the trade, services and tourism sectors are eligible, except those activities excluded under the ERDF and the Commission's General Block Exemption Regulation (EU) No 651/2014. The Business Activity Codes (KAD) are detailed in Annex 5 of this Call.

Expenses eligible under the action include all those related to:

  • Costs for the implementation of energy upgrade interventions
  • Costs for preparing, submitting and monitoring the application as well as monitoring the achievement of minimum energy targets under the De Minimis Regulation
  • Investment costs, required to achieve greater energy efficiency.
 
The percentage of State Funding (grant) ranges from 30% to 65% of eligible costs (depends on the size of the company and the type of expenditure). 
Application submission period: from 12/03/2024 through to 15/04/2024

The maximum length of time for completing the physical and financial object of the investment should not exceed fifteen (15) months from the date of issuance of the Inclusion Decision.

Funding applications are submitted through the Information System of the Ministry of Environment and Energy (PSYPEN) for the management of this action.
 

Energy saving costs: General Block Exemption Regulation (EU) No 651/2014, as in force. In particular, for the implementation of the program, apart from the costs of consulting / ancillary services, General Block Exemption Regulation (EU) No 651/2014 will be applied and specifically as per the provisions of Articles 38 and 38a.

Costs of consulting / ancillary services shall be allocated in the scope of Commission Regulation (EU) 2023/2831 dated 13 December 2023 on the application of Articles 107 and 108 of the Treaty on the Functioning of the European Union to de minimis aid (De Minimis Regulation).

 

What we do for you

Contact your Business Banking Relationship Manager today and learn about our financing products and the tools we offer for the implementation of your development plans.

In the implementation phase of the investment by means of the Program:

  • Option for short-term borrowing against the concession of the grant
  • Support in finding the appropriate financial tool to cover private participation, depending on the needs of your business.

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