Energy

As the world addresses diverse and challenging questions related to energy production and supply, Greece is in a pivotal position to chart its energy future, emerging as a strategic energy hub in Southeast Europe and a desirable location for investment.

A Sustainable Investment

The energy policy of Greece favours major private sector investment.

It is estimated by the World Bank that investment of more than 30 billion Euro will be required by 2020 in the upgrade and building of power plants, in transmission and distribution, and in renewable energy sources (RES).

Greece’s comprehensive energy policy, to establish sustainable, competitive, and secure sources of energy, has established an encompassing regulatory and market framework for the energy sector. This, in combination with Greece’s wide-ranging investment regulatory framework, provides for exceptional opportunities for investment in a number of areas.

Recent legislation (Law 2773/1999) provides for the deregulation of the electrical energy market and as such, domestic production, transmission, and distribution in the energy field is open to private investors.

This sweeping change has transformed the electricity and energy market in Greece into one of the most exciting sectors of growth and opportunity in Europe. While previously all electricity production, transmission, and distribution was under the monopoly of PPC, today companies from around the world are taking advantage of this tremendous market opportunity.

Among the companies currently active in Greece are: Hellenic Petroleum, Motor Oil, Public Gas Corporation (DEPA), Prometheus Gas, Public Power Corporation (PPC), Public Power Corporation (PPC) RES, Mytilineos Group, Terna, Global Energy, Energy Solutions, Solar Cells Hellas, Next Solar, Enova, EDF, Edison, Conergy, EGL, Acciona, Enel, Eurus Energy, Gamesa, Rokas-Iberdrola, Endesa, WPD, Atel. These companies are involved in mainstream electricity production, gas distribution, and the expanding field of renewables.

Greece’s strategic geo-economic location, between energy producers in the Middle East, North Africa, and the Caspian Sea region, as well as on the vital transport routes of the Aegean Sea and the Eastern Mediterranean, mark it as the expanding hub between East and West.

Greece has initiated crucial, major ventures in oil, gas, and alternative sources that literally put the country at the heart of the Southeast European energy axis.

Energy Policy Resources
Ministry of Environment, Energy & Climate Change (www.ypeka.gr)
Regulatory Authority for Energy (www.rae.gr)
Centre for Renewable Energy Sources (www.cres.gr)
Public Power Corporation (www.dei.gr)
Hellenic Transmission System Operator (www.desmie.gr)
Greek Association of RES Electricity Producers (www.hellascres.gr)
Public Gas Corporation S.A. (www.depa.gr)
Hellenic Petroleum S.A. (www.hellenic-petroleum.gr)
Greek Solar Industry Association (www.ebhe.gr)
Hellenic Association for the Cogeneration of Heat & Power (www.hachp.gr)
Hellenic Association of Photovoltaic Companies (www.helapco.gr)
Hellenic Wind Energy Association (www.eletaen.gr)

Greece’s Investment Incentives Law governs the terms and conditions of direct investment in Greece and provides for incentives, available to domestic and foreign investors, dependent on the sector and the location of the investment. In February, 2011, the New Investment Law that introduces new values, new procedures and new financing tools, was voted on and passed by the Greek Parliament. Greece’s new Investment Incentives Law creates an outward-looking investment environment.
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