Decarbonization plan prompts German investment interest

Greece’s decarbonization plan, to be executed through a gradual withdrawal of power utility PPC lignite-fired power stations in the country’s west Macedonia region, in the north, and Megalopoli, in the Peloponnese, has prompted German investment interest.

The head of German electric utilities company RWE, Rolf Martin Schmitz, expressed an interest for green investments in Greece to Prime Minister Kyriakos Mitsotakis at a meeting yesterday in Germany. Schmitz highlighted his company’s knowhow in pursuing post-lignite plans.

The timing of yesterday’s meeting was not coincidental. Just weeks ago, Greece’s leader, speaking at the UN Climate Action Summit in New York, announced a decarbonization objective for the country by 2028.

Yesterday’s session can be seen as a follow-up to a meeting between Mitsotakis and German Chancellor Angela Merkel in Berlin last August.

The two leaders had discussed environmentally friendly investments and also announced a plan to stage an investment forum involving Greek and German firms possessing green energy experience.

The Greek government’s current search for a plan that will ensure a smooth transition to the post-lignite era no doubt signals investment opportunities in Greece for RWE.