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Newsletter December 2009

EDITORIAL

As the global financial crisis begins to ebb, investors are expressing a keen interest in Greece as an investment destination. Our outreach activities of the previous three months have generated an eager response from businesspeople in Sweden, Austria, China, and Korea—among other locations. Not surprisingly, one of the key areas of interest has been in the green economy, both in energy production from renewable sources (RES) and in the vital area of waste management. Meetings with Swedish and Austrian waste management companies have allowed us at Invest in Greece to highlight the considerable opportunities they have to become part of the solution in the three Rs—recycling, reduction, and reuse—in Greece.

In Asia, during a mission to Beijing and Seoul, Invest in Greece professionals met hundreds of businesspeople who showed a strong interest in learning more about the many opportunities to invest in renewable energy projects, tourism, waste management, and information technology. They were pleasantly surprised to learn that Greece offers investment incentives that are among the most attractive in Europe.

They were delighted to learn that, in the RES sector, Greece offers

• High feed-in tariffs through a 20–year PPA (power purchase agreement)
• An investment incentives scheme that offers up to 60% of the total investment cost
• A long-term legislative framework

During the first seven months of 2009, the installed photovoltaic units for electricity production in Greece amounted to 29.8 MW –a level double than that in January, demonstrating the rapid uptake of new RES projects in Greece.

As the world community debates global action to combat climate change in the month of December, Greece is committed to a radical and comprehensive plan to derive energy from renewable sources, to reduce CO2 emissions, and to create a green economy that will benefit citizens and investors alike.