Effective financing for provision of renewable electricity and water supply on islands

The current paper deals with two major problems faced by small islands and isolated areas in Greece. The first is power supply and the second is water supply. The scope of the present paper is to investigate the potential of implementing JESSICA (Joint European Support for Sustainable Investment in City Areas) as a complementary financing instrument for provision of Renewable Energy Sources (RES) electricity and water supply on islands with urban and rural areas. The above analysis is presented through a real case on the Greek island Ios. Considering the intense tourism activity during summer, as well as the isolation characteristics of a big number of Mediterranean Islands, the present solution contributes significantly to the improvement of quality of life. In essence the investment contributes significantly to the overall development of the area fulfilling the three aspects of sustainable development (environmental, economic, and social).

► Need for power and water supply on Mediterranean islands.
► RES electricity and water provision on islands could support financial, environmental and social development.
► The use of RES contributes significantly to the improvement of quality of life in a big number of Mediterranean Islands.
► JESSICA use on islands can ensure the repayment of the loan.
► RES Investments could not be eligible in the context of JESSICA, unless they would be a part of a more integrated local development plan.