Our Best To Friends in Greece With Their “Fast Track” PV Projects


Dear Friends/Readers/Viewers/Visitors,

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Another piece of wonderful news regarding Greece was revealed by The Greek Deputy Minister of Development, Competitiveness, Infrastructure, Transport and Networks, Notis Mitarakis, about a week ago during a press conference: a list of five photovoltaic projects that have been granted by the state, the “fast track” status.  Once completed, these projects will have a total capacity of 724.162 MW.  The “Fast Track” Greek photovoltaic projects are as follows:

  1. ILIAKO VELOS ENA:  Development of a 200 MW photovoltaic park at the Western Macedonia Lignite Centre, Municipality of Kozani. 500 million euros budget.
  2. SPES SOLARIS-SOLAR CONCEPT photovoltaic Parks:  Development of 39 photovoltaic parks of a 131.2 MW total installed capacity in various municipalities. 301.5 million euros budget.
  3. SILSIO Photovoltaic Parks: Development of various photovoltaics parks around Greece of a 126.82 MW total installed capacity.  248.2 million euros budget.
  4. SPES SOLARIS-SOLAR CONCEPT photovoltaic Parks: Development of 12 photovoltaic parks of a 166.142 MW total installed capacity.  332.284 million euros budget.
  5. BRITE HELLAS: Development of a 100 MW Photovoltaic park at  the Municipality of Drama, Northern Greece. 204 million euros budget.

For a project to be granted the “Fast Track” status it needs to satisfy certain features such as having a large budget, the creation of numerous jobs, and that it promotes innovation and protects the environment.  Primarily fast track projects concern large scale investments which aim to capitalize on the strategic advantages that Greece can offer on the global map.  Any investor applying for the fast track status is also eligible to apply for any or all the benefits available for his  investment in the Greek Investment Incentives Law, which may include capital subsidy, tax shield, interest subsidies, etc. In essence, fast track is not a financing tool, it doesn’t provide money or subsidies.  Fast Track facilitates speed, transparency and legal contractual certainty to investors who have a solid and tangible investment plan.  Hurray for the Greek government for recognizing the fact that solar PV projects are different from traditional conventional energy where incoming fuel lines and various environmental impacts had historically required far more time and attention than that of solar projects.  Currently, the biggest concern is the liquidity problem, according to Kostis Hatzidakis,

Kostis Hatzidakis, Greek Minister of Development, Competitiveness, Infrastructure, Transport and Networks

Minister of Development, Competitiveness, Infrastructure, Transport and Networks, “There are no projects excluded from the liquidity problem. The key is to complete the recapitalization of banks.”  He further indicated that the Ministry has been trying to increase the liquidity in the market and this is the reason “we are now planning the Greek Investment Fund, which will provide financial and technical support in key areas like energy. Its funds will come from both Greek and international institutions.”  We wish our friends in Greece the best with their solar PV projects.

~have a bright and sunny day~

Gathered, written, and posted by sunisthefuture-Susan Sun Nunamaker

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