World Financial Discussion board (WEF)
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This month, I’m in Europe, which can cumulate in being in Davos for the World Financial Discussion board. Europe is within the midst of a large power disaster, with surging costs for gasoline and electrical energy which have reached unprecedented ranges. One of many recurring conversations that retains arising is the worldwide economic system and the way Europe and the remainder of the world substitute Russian power. Many surprise if the battle in Ukraine is the catalyst the world wanted to maneuver us in the direction of extra sustainable power sources globally.
As Member nations of the European Union (EU) are negotiating measures to scale back the dependence on Russian fossil fuels and enhance their carbon plan, one nation believes it may play a major function in that new power future.
For the primary time, Greece may have a presence on the World Financial Discussion board’s (WEF) Annual Summit from Might 22-26, 2022, in Davos, Switzerland. GREEK HOUSE DAVOS (GHD) is about to open its doorways there to supply a chance for Greek companies to discover new markets and world alternatives.
Irini Vantaraki, founder and director of GHD, believes that Greece now provides the “proper situations to draw important overseas funding in power and different sectors that that is the suitable time to do it. I imagine that funding is the very best software for growth that may lead Greece to prosperity.”
Given the uncertainty of the long run, Greece is in a novel place—by way of assets and site—to play a major function within the area’s power markets. In consequence, in 2022, power is a extremely profitable and interesting investment opportunity.
Greece’s Power Potential and Funding Alternatives
There’s a ton of potential in Greece’s wind, hydro, biomass, geothermal, solar, and solar thermal energy sectors. Additionally they have a number of promising large-scale infrastructure initiatives, such because the TAP-IGB-EastMed Gas Pipelines.
Greek territory covers 31 of the 182 kilometers of the Interconnector Greece-Bulgaria (IGB) pipeline. This venture is designed to be a strategic mode of gasoline transportation, making certain a wholesome gasoline market and provide safety for Greece.
Studies recommend that Greece’s prospects within the biomass and biogas sector have a shiny future. The nation solely imports 1% of its required biodiesel and regionally produces 90% of what they want.
Photo voltaic Power
Greece’s common global irradiation level crosses 1,500 kWh/m2. That is because of the 4.1 million m2 (2.9 GWth) of put in photo voltaic thermal techniques, making the nation second solely to Germany in its complete capability. Moreover, Greece is simply behind Cyprus and Austria in its per capita ratio of put in collector surfaces. Due to this fact, Greece has immense potential for bigger photo voltaic thermal techniques. Photo voltaic accounted for round 10.4% of annual power technology within the nation.
Photo voltaic is an interesting sector to put money into because of:
● Substantial entry alternatives in a rising market
● Big selection of synergistic purposes
Wind Power
Greece’s geographical location makes it the right candidate to be a significant producer of wind energy, with a few of the most engaging websites in all of Europe. Its common capability elements are round 25% for the mainland and 30% for the islands. This provides as much as an estimated 10,000 to 12,000 megawatts of power produced.
Investing on this sector is interesting because of:
● Wind assets are amongst the very best in Europe
● System operators’ precedence dispatch capacities
● Enterprise-oriented, fashionable auctioning system
● 20-year energy buy agreements (PPA)
● The long-term legislative framework for favorable and dependable investments
Hydropower
Greece has considerably increased its hydropower capacity by 336 megawatts between 2008 and 2020. Of the full power consumption in Greece in 2010, wind share contributed to round 3.7%. In 2021, the nation had 128 new generators arrange over 12 months. The potential of hydropower within the nation is already important and on an upward development.
Hydropower might be a prudent funding because of its immense potential and development compared to other European countries.
Biomass and Biofuels
Biomass generates round 67% of the full power produced by renewable energy systems in Greece. Of this, 60% of biodiesel was produced from oilseeds, 27% from used vegetable oils, frying oils, and animal fat, and the remaining produced from cotton seeds.
● Plentiful availability of raw materials
● Governmental dedication to rising using biofuels
● The long-term legislative framework for favorable and dependable investments
Why Greece?
Greece has change into a pacesetter in renewable power development because it prepares to face the long run. The Greek Prime Minister vowed to make Greece a worldwide chief in a race to decelerate local weather change and cut back its carbon footprint. “The economic system’s development is inextricably tied to creating ourselves as power unbiased as we will,” he stated. Greece’s renewable power sector is thus seeing exponential development, with a variety of potential.
The important thing causes are:
● Strategic place – Greek stands on the crux of the place the east meets the west and could be a key participant in power transportation.
● Power technology potential – Resulting from its local weather situations, Greece possesses a outstanding capability for renewable power technology that might considerably affect power availability all through Europe.
● Laws and authorities help – Greece’s ministries of Power and Growth have inspired many funding initiatives such because the TAP pure gasoline pipeline, the liquid gasoline terminal in Revytousa, and different main renewable power investments. As well as, their regulatory framework supplies ample alternatives for investments in numerous areas of the power market.
With the worldwide shift in the direction of renewable and inexperienced power sources, the power market goes by means of a major transformation that may solely additional spur development.
Vantaraki believes,” It’s the excellent time to put money into power and enterprise in Greece. Greek Home is aware of how to make sure that investments flourish as the way forward for renewable power booms and the alternatives proceed to develop. I need to see the Greek state and the folks prospering and residing higher lives. I imagine now we have a variety of gifted folks right here who can obtain world success with the correct group and help. It is time for our companies to develop and develop globally. Davos will open these doorways to alternative.”
Vantaraki believes there are funding alternatives in:
● Privatized belongings
● New infrastructure, notably for gar transmission
● Worldwide tenders for Hydrocarbon Exploration
● Renewable power initiatives
● Companies and investments which are power environment friendly
● Island grid connectivity
The World Financial Discussion board will give Greek companies an opportunity on the world stage. The query is will the remainder of Europe take note of the progress Greece is making and can Greek companies and entrepreneurs reap the benefits of the chance.