News Article
Greece Continues With € 20 Billion Solar Plan
In the rush to shore up economic concerns in the EU, German and Greek officials have been visiting each other bolstering plans and ideas that will enable Greece to develop pro active projects that improve local capacity and provide methods of paying back EU based loans. One of the larger projects that has been in the pipeline is a€ 20 Billion plan to develop up to 10 gigawatts of energy that can be used domestically as well as selling excess energy onto the larger European energy market.
Affirmation that that project would continue has come from Greece's Energy Minister George Papaconstantinou who has stated that he expects agreements to be reached, contracts signed and work to be begin on Project Helios by year's end. The remarks were made during a visit by German Economy Minister Philipp Roesler and are a key part of the re-structuring plan that Greece has been developing with EU assistance. Helios has been named after the Greek sun god and allows foreign investment to install as much as 10 gigawatts in the region.
Greeks high level of solar energy has been the basis of a broader plan to develop local industry with international potential to be a strong export for the struggling country. Part of the framework development is reviewing current Greek renewable energy policies and what the country can realistically afford in their rush to develop new growth areas for the region.
