Interconnector Greece – Bulgaria receives first installment under OPIC
ICGB AD Company stated: “EUR 28 499 999 were transferred to the project company for the implementation of the interconnector Greece-Bulgaria following a through compliance check of the tender procedure related to the line pipe production and delivery and subsequent review of the documentation related to the execution of the contract”.
ICGB was granted the first major instalment from the approved financing under the Operational Program Innovation and Competitiveness (OPIC). EUR 28 499 999 were transferred to the project company for the implementation of the interconnector Greece-Bulgaria following a through compliance check of the tender procedure related to the line pipe production and delivery and subsequent review of the documentation related to the execution of the contract.
Due to the strategic importance of the IGB pipeline for the diversification of sources and routes of natural gas for the entire SEE region, the implementation of the project is secured with grant financing provided by the European Energy Program for Recovery, funds from OPIC, state guarantee from the Bulgarian side and shareholder capital.
At the end of 2020, the first interim payment under the EEPR in the amount of EUR 6 400 480.56 was approved and received as well.
Source: https://www.icgb.eu/press/linkedin and https://en.trend.az/business/energy/3396493.html