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Newsletter October 2012

SPEAK OUT

Positive on Greek Market

Amy Zhang, CEO of Sky Solar Holdings Co., Ltd, on the development and potential of RES in Greece.

China’s International Business Daily published an interview with the CEO of the Chinese photovoltaics company Sky Solar Holdings Co., Ltd. on investing in Greece.

An interview with the CEO of the Chinese photovoltaics company Sky Solar Holdings Co., Ltd., Amy Zhang,  was published in a special report of China’s International Business Daily on the occasion of the 40th anniversary of the establishment of diplomatic relations between Greece and China.

The newspaper, sponsored by the Ministry of Foreign Trade and Economic Cooperation of the People's Republic of China, is a key information channel of Chinese and foreign business cycles for commerce and investment, distributed throuhgout China, and addressed to Chinese officials and representatives of the financial and business elite.

Sky Solar Creates a Bright Future in Greece
Chinese company Sky Solar, a company specialised in the field of photovoltaics, entered the Greek market in 2008 and believes in the development and profitability of the Renewable Energy Sources (RES) field of Greece within the next two years, states Amy Zhang, the CEO of the company.

Sky Solar in Greece maintains a team of 20 employees, covering the whole range of operation for designing, programming and developing photovoltaic installations. In 2011, the Chinese company signed an agreement of 33 million Euro with Mediterranean Group for the completion of a 10 MW photovoltaic installation.

“It is the first large construction that is entirely completed by our company. This investment is worth only 1/10 of the entire capital that we are committed to invest in the Greek market from 2012 onwards”, said Mrs. Zhang.

When asked why Sky Solar invests in the Greek market of renewable energy sources in a period of intense crisis, the CEO said that “Greece has the perfect climate with plenty of sunshine, as well as the suitable terrain with fertile grounds all around the country.

Mrs Zhang  added: “The electrification cost is relatively high, mainly due to the high price in the production cost of electricity. Especially nowadays, following the reduction of the installation cost of photovoltaics, we think that investment in the market will become profitable, possibly even within the next two years. Even now there are indications for this and that's the reason we have invested so early in this market”.

In Greece, Sky Solar manufactures photovoltaic plants of total power of 140MW, and is very close to the agreement of one more plant of total power of 40MW. Its goal is to continue its active presence in the Greek market. The company, based in Shanghai, has offices in 20 countries around the world and employs a total of 250 staff.

Mrs. Zhang  thinks that Greece and China have a lot to earn from one another within the framework of their cooperation in the photovoltaic sector. “China has managed, during the last years, to retain the prices of production at a low-level, preserving the high-level  quality of manufacturing.

"On the other hand, Greece has a very well-organised, stable and clear policy in the field of the Renewable Energy Resources. I believe that within the next years, we will witness the stabilisation of the Greek Economy, leading to more opportunities of investment in the Renewable Energy Resources. Once this happens, even more Chinese investors will immediately seek the very attractive opportunities, offered by the Greek market.”