German entrepreneurs seek RES investments on the islands

A considerable number of German entrepreneurs expressed their readiness to invest in Greece – especially in the field of energy efficiency and renewable energy source (RES) production, particularly on the Greek islands – during various talks and events held yesterday as a result of a visit to Athens by a 40-member German delegation headed by Vice Chancellor Sigmar Gabriel, also Minister for Economic Affairs and Energy.

Greece’s energy minister Panos Skourletis noted that both government and the ministry he heads are “here to facilitate entrepreneurs interested in investing in our country’s energy sector.”

German investors declared an interest to install conventional RES systems, especially wind-energy systems on Greek islands, and develop interconnection networks to transfer energy production to the mainland grid. Also, the installation of innovative technologies to offer islands energy independence is another prospect that interests German investors, they noted.

Energy independence on the islands could be supported though a series of moves, including development of hybrid wind-and-photovoltaic systems, technologies offering large energy storage capacities, as well as the installation of digital power meters for efficient management. Such initiatives promise to further utilize exisiting RES facilities at a rate of 80 to 85 percent from around 20 percent at present.

Skourletis, Greece’s energy minister, while delivering a speech last night at a function organized by the Greek-German Chamber of Commerce and Industry on the occasion of the delegation’s visit, stressed the government’s determination to support a “new era of growth” in the RES sector.

Skourletis underlined Germany’s impressive level of progress achieved in the RES sector and the domain’s incorporation into the daily lives of people.

“Energy cost reduction and security, issues now dynamically back on the forefront, concern us just as much as they do all other European nations, both for our citizens and production units – especially now, as we strive to create conditions for economic growth and a way out of the recession,” Skourletis remarked.