Greece to invest €2.5 bn in renewable energy by 2010

20 March 2007 – Greek development minister Dimitris Sioufas said on Monday (19 March) that he had signed a ministerial decision on licensing of electricity production from renewable energy sources and high-performance heating electricity co-production in the country.

Sioufas said the decision was another step towards implementing a new energy policy and offering more access to renewable energy sources in the country’s energy balance. The decision also introduces, for the first time, production licenses for hybrid power stations, of particular importance to Greek islands.

The minister said that a number of renewable energy sources projects which began operations in the last two years accounted for 50 per cent of all projects launched in the previous decade and underlined that investments in renewable energy sources projects would total €2.5bn ($3.35bn) by 2010.