Debt-ravaged Greece seeks solar-powered growth.

Greece hopes concentrated solar power technology can become an opportunity for the debt-ravaged country to seek a better future. Plans are underway to build the worlds largest solar park over depleted coal mines in the city of Kozani (Κοζάνη, Μακεδονία).

The project has been estimated to cost 600 million euros approximately 807 million USD and with a capacity of 200 megawatts (MW).

Simmilarly, Nur-MOH, a solar power producer in the Mediterranean region, announced earlier this week that it has secured an Electricity Generation License to construct a 38-megawatt solar farm on the island of Crete in Greece. The Nur-MOH project is a joint venture between Nur Energie and Motor Oil Hellas. The plant has reported that it will utilize concentrated solar power technology provided by U.S.-based company BrightSource energy. Potentially powering 13,000 homes on the island through the Brightsource’s proprietary LPT 500 solar technology, which uses thousands of small mirrors—or heliostats—to reflect sunlight directly onto a boiler, producing heat. After the heated water is piped to a turbine, it is redirected back into the system, using 95 percent less water than traditional wet-cooled solar thermal technologies.

The projects are currently seeking international tender to find a strategic investor for the solar ventures.


Published by Andreas Koudellou

A senior associate focusing on early stage-companies. As a foodie I am a recognized expert on where to find the best dry-aged beef in NYC. I have a deep finance and international relations background, getting my start at the Council on Foreign Relations, UN and then on to HNW/UHNW capital management.

One thought on “Debt-ravaged Greece seeks solar-powered growth.

  1. The current feed-in-tariff for solar thermal energy in Greece, is 264.85 €/MW, which is guaranteed for 25 years and is not linked to public funding, but consumer electricity bills. GOOD LUCK GREECE!!!

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