Recovery fund


Improving the Energy Efficiency of Micro, Small and Medium Enterprises in Trade, Services and Tourism

Improving the energy efficiency of Micro , Small and Medium Enterprises in Trade, Services and Tourism in order to save energy but also as part of the effort to implement the green transition and related to the following climate and environmental objectives set out in EU Regulation 2020/852:

  • limitation of the climate change
  • adaptation to climate change
  • transition to a circular economy


The action is part of the “Green Transition” Pillar of the Recovery and Resilience Fund, under the category A.2 Renovation and the Sector “Investments in Energy Efficiency” and will be implemented at national level and in all regions of the country.

Funding Key Points

Date of opening/closing of applications

Pending the publication of the notice

Content of the Investment Plan

  • Energy upgrading of the building infrastructure with interventions in the building shell, upgrading of internal electrical installations, upgrading of cooling/heating systems, upgrading or integration of new materials and equipment to reduce energy losses, upgrading of lighting equipment, etc., and
  • Installation and certification of energy management systems and automation devices.


Existing SMEs in the trade, services and tourism sectors that:


  1. Operating in the Greek Territory with a Greek VAT number 
  2.  They have been set up as a business, with an eligible Activity Code (KAD) for the Action until 31/12/2020.
  3. Have completed at least two (2) 12-month financial years prior to the date of online submission of the funding proposal.
  4. They operate legally and in accordance with relevant EU and national environmental legislation.
  5. An Energy Audit of the company in its current state must have been completed and the proposed plans must result in energy savings.
  6. In case the application includes measures to improve the energy efficiency of the building infrastructure and if provided for by the legislation in force, in order to document the necessity of implementing the interventions, the issuance of an Energy Performance Certificate issued by an Energy Inspector, registered in the Energy Inspectors’ Register, is required.
  7. It achieves at least the minimum energy target,
  8. They constitute a legal entity (Societe Anonyme, Limited Liability Company, General Partnership, Limited Partnership, Private Company, Social Cooperative Enterprise, Cooperative) or Sole Proprietorship and keep simple or double-entry books.
  9. As regards the project as a whole and the individual actions, the cumulation conditions set out in the De minimis Regulation and the General Block Exemption Regulation 651/2014 apply.
  10. They are not in bankruptcy, liquidation or administration.
  11. There are no pending State aid recovery proceedings against the company.


The total public expenditure budget of the action amounts to €200 million and will be divided separately into:

  • €100 million for the Trade and Services sectors
  • €100 million for the tourism sector

The action is funded by the Recovery and Resilience Fund and the distribution of the resources will be done at regional level.

Under the Programme:

  • For the Trade and Services sectors, projects with a total investment budget (subsidised budget) of up to €100,000 are supported,
  • For the tourism sector, projects with a total investment budget (subsidised budget) of between €50,000 and €500,000 are supported. The Capacity of the facility should be up to one hundred (100) beds.

The above limits do not include VAT, which is not an eligible expenditure.

Underlying investment projects

Eligible sectors of economic activity are:

  • The Trade and Services sector 
  • The Tourism sector.

Eligible expenditure

  • energy upgrading interventions of the building envelope, such as thermal insulation of opaque building elements, replacement of transparent building elements, installation of shading systems,
  • interventions for energy upgrading of the lighting system, such as replacement of lighting fixtures by new LED technology, installation of automation for coupling artificial and natural lighting, installation of automation to reduce consumption due to the absence/presence of users,
  • energy saving interventions in space heating systems
  • energy saving interventions in space cooling systems
  • energy saving interventions in ventilation systems
  • energy saving interventions in hot water systems
  • interventions for the installation of renewable energy systems, solar thermal systems, photovoltaic systems, energy storage systems, small wind turbines and geothermal systems including ground-coupled heat exchangers
  • installation of automation, control and management systems at local and central level
  • power quality improvement systems


Other supporting services

  • Energy Auditor Services
  • Energy Inspector Services
  • Development and certification of an energy management system according to the ISO 50001 standard.
  • Monitoring and Management Consultant services
  • Preparation of studies and surveys of any kind necessary for the implementation of the energy audit results report relevant to the objectives of the Action.

Other information

Energy target 

  1. reduce emissions of pollutants (CO2) by at least 35%
  2. primary energy savings of at least 35%
  3. upgrading of the energy class based on the Energy Performance Certificate by at least three (3) energy classes compared to the existing classification (or mandatory class B, in case of radical renovation) if the upgrade of building infrastructures falling under the provisions of Law 4122/2013.


Aid rates 

The aid rates for investment projects for the total eligible costs of the investment projects are as follows:


Type of business \ Type of expenditure Energy saving expenditure (General Block Exemption (EU) No 651/2014 (Article 38)) Support expenditure (De Minimis)
Medium 40%                40%
Small and very small 50%


Starting dates for eligibility of expenditure 

  • for expenditure subject to the General Block Exemption, the date of electronic submission of the proposal to the Programme.
  • for expenditure subject to the De minimis Regulation, the date of pre-publication of the Programme,


Host organisation

The region in which the investment project will take place. Applications must be submitted through the Programme’s Information System.

The evaluation of investment projects will be comparative, in the context of an overall score based on the following criteria:

  • Κ1: Calculated annual primary energy savings (kWh/m2)
  • K2 Specific annual primary energy savings (expressed in operating hours)
  • K3 Return on Investment: the ratio of the annual primary energy savings (kWh/m2) to the cost of the Investment (in terms of the annualised figures).

Overall Investment Plan Application Score: K = ΣKixβi


The criteria and the weighting factors βi will be described in detail in the Call for Proposals.

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