While the war in Ukraine and the REPowerEU plan have stressed the vital role of Greece’s natural gas infrastructure in ensuring both diversification of energy supply and increased energy security, continued investments are vital, says Maria Rita Galli, CEO of DESFA – the country’s natural gas transmission system operator. “All these developments call for a further acceleration of the energy transition,” she adds, making the company’s strategy to focus on green gases and the development of new future proofed infrastructure evermore important.
Targets have been set for PPC Renewables (PPCR) – a subsidiary of Greece’s largest power company PPC – to operate 40% of Greece’s renewable energy capacity by 2026, says company CEO Konstantinos Mavros, adding that strategic alliances and M&A activity will be key to the success of their €3 billion investment. “We're looking for smart deals and long-term investors.”
The U.S. tech major’s Digital Transformation Center in Thessaloniki is a place where co-innovation meets digital skills training – currently top of mind as Greece accelerates its digital transformation – says Antonis Tsiboukis, Managing Director of Cisco for Greece, Cyprus, Portugal and Malta. Having been present in Greece since 1998, Cisco’s vote of confidence is leveraging a rich talent pool available in the country’s second largest city, in addition to its strategic location, providing Cisco with a springboard into Balkan markets to attract know-how and business. “We now see a real opportunity and we are ready to support Greece to move forward.”
German investment activity in Greece is entering a new phase says Ernst Reichel, German Ambassador to Greece, pointing to the launch of greater investments of scale and substance – with a particular focus on opportunities in the green and digital spaces – while stressing that Greece 2.0 presents a once-in-a-lifetime opportunity for Greece to make a “great leap” into a new era.
Intrakat’s diversification strategy is a response to the new needs of the Greek economy and its unprecedented transformation, says company CEO, Petros Souretis, with his eyes set on growing opportunities in PPPs, renewable energy, and real estate development – “now is the time to take a risk and invest in the Greek market.”
With relations between Washington and Athens at their best ever, Geoffrey R. Pyatt, U.S. Ambassador to Greece, says now is the time for U.S. investors to take advantage of Greece’s transformation, on the back of deepened bilateral cooperation – across priority areas including RES, technology, R&D, and education – and a virtuous cycle between government reforms and incoming investments.
Greece Investor Guide
A daily dose of news and trends about the Greek economy & highlights of business and investment opportunities.
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Greece’s Organisation for Economic Co-operation and Development (OECD) anticipates that Greece will end 2022 with 6.7% growth 📈, and estimates that recent efforts by the government will help to recover the country’s investment grade. In particular, the tourism sector’s recovery
In another major boost for Greece’s infrastructure, 2 railway projects 🚃 amounting to over €200 million are getting underway, signaling the development of key infrastructure upgrades to the country’s railway network. One of these projects is the Rhododafni - Rio project,
Greek start-up Blueground has had an excellent year, raising $180 million 💶 with $140 million from financing via a share capital increase from investment companies including WestCap, Geolo Capital, Prime Ventures and the Greek fund VentureFriends. The company has a presence
Greece’s cosmetics 💄 exports are set to break records, possibly reaching €500 million by the end of the year! According to data from ELSTAT, processed by the organization Enterprise Greece, Cyprus, the U.K., and France are believed to be key destinations in the coming 5 years.
Changes are on the way for Mykonos’ tourism industry 🏝️! The Greek state has announced plans to subsidise the creation of a 192-bed hotel developed by AGC Equity Partners, providing €6.6 million in the form of tax exemptions. The total amount of this project lands
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