-| Greece’s GDP Growth Rate (Reference Year: 2010) |-
Q1-2017: +0.4% (annual basis)
Q2-2017: +1.6% (updated estimation)
Q3-2017: +1.3% (according to the official announcement of the Hellenic Statistical Authority (EL.STAT.) as per December 04, 2017).
| On the path to a new Greek Economic Miracle from the 2nd semester of 2017 onwards |
– || The first ever competition for RES projects in Greece was completed – A new era for Greece’s RES market has just begun ||-
In accordance with the new Support Scheme for RES Projects (L.4414/2016) in Greece, the first ever tendering/bidding competitive process for RES (PV) projects was carried out the day before yesterday.
Particularly, the Regulatory Authority for Energy (RAE) of Greece announced the winners of the country’s first ever auction for RES projects, which took place on December 12, 2016, awarding a cumulative capacity of 40.0 MW to PV projects. The first (pilot) tender was solely aimed at PV technology. Specifically, there were two bidding categories, the following:
- Category I – Tendered Power: 4.8 MW (PV projects up to 1.0 MW each)
- Category II – Tendered Power: 35.2 MW (PV projects between 1.0 MW and 10.0 MW – 10.0 MW was the upper limit for each participant)
During the tendering system (competitions) each producer needed to bid (a particular price) in order to provide the production to market operator (Operator of Electricity Market/OEM or LAGIE) under a competitive process. The said process was executed under a tendering system of reverse auctions.
The maximum allowable bid price in the frames of the competitions was set at €94.00/MWh for PV projects that are obliged to obtain a Production License (i.e. for Projects with capacity over 1.0 MWp up to 10.0 MWp) and €104.00/MWh for PV projects that are exempted from the issuance of Production License (i.e. for Projects with capacity between 500 kWp and 1.0 MWp).
According to Greece’s new policy framework for RES projects, the winning projects will be given a variable premium, on top of the standard market price for the generated electricity. The amount of the premium will depend on certain market variables (e.g. the system’s marginal price) and the tariff set via the pilot tender. The feed-in premium will be valid for 20 years (duration of the Operating Aid Contract with LAGIE).
The successful bids in the first category ranged between €94.97 and €104.00 per MWh and have a combined capacity of 4.8 MW. The main share of the PV capacity awarded came in the second category, where winning bids ranged between €79.97 and €88.00 per MWh for a cumulative capacity of 35.2 MW.
Participating bidders who secured capacities for PV projects included ELPE Renewables, the Mouratoglou Group, Juwi Hellas and Aten.
For the PV projects that were selected through the pilot competitive process the activation of the connection to the grid will have to take place:
- Within 18 months from the final result of the competitive process for PV stations ≤1 MWp (1st Category),
- Within 24 months from the final result of the competitive process for PV stations >1 MWp (2nd Category).
According to the market participants the first competition for RES (PV) projects in Greece was very successful. The intensive competition (during the bidding process) drove prices down to levels of about 15% below the starting price, however the final price deemed as a satisfactory level for investors.
Based on the abovementioned tendering process the 1st competition for Wind Projects will be carried out in Greece within 2017 (probably in the 2nd semester of the year).
According to initial indications more and more interested companies is going to invest in the highly promising RES market in Greece from 2017 onwards.
[!] Invest in the future by investing in the highly promising Greek RES market [!]
-| On the road to Grecovery – The Hellinikon Mega Project: A new era for Greece’s economy and real market has just begun |-
From the second semester of 2016 is expected to begin the sustainable economic growth in Greece after more than eight (8) consecutive years of unprecedented economic crisis and deep recession. More and more investors and funds from all over the world bet Greece will be on the road to economic recovery (from Greek economic crisis to Grecovery) sooner than it was expected. Particularly, Greece’s GDP growth rate is expected to be positive from the 2nd semester of the current year and the said growth will escalate at a much more rapid pace from 2017 onwards.
Therefore, Greece can be treated as an emerging economy and market. As a consequence, new investments opportunities will arise in the coming years from several promising economic sectors of the Greek market like Tourism Sector, Real Estate, Greek RES Market (Large-scale Wind and PV projects), Maritime Sector, New Technologies and Research, Capital Market (via Athens Stock Exchange/ASE), Agricultural Sector and Logistics.
Greece’s economy key facts:
GDP (2016): $195 bil. – Market size (population, 2011): 10.8 mil.
Given the above analysis, the master plan for the implementation of the Hellinikon mega project is a strong message to investors around the world that Greece’s economy will return to positive growth rates. The Hellinikon project is the creation of a new face for the location of the former International Airport in coastal Athens (Hellinikon site). It will change the view of the coastal area, bringing thousands of work positions and millions of tourists in Attica region.
The Hellinikon project is the largest urban regeneration/real estate investment project throughout Europe and worldwide, as the property is more than three times larger than the size of Monaco, more than two times the size of Hyde Park in London and almost two times the size of central part in New York. In particular, the development and implementation of the said project will be an important evidence that Greece can attract and implement highly ambitious investment plans.
Once completed, the Hellinikon project is expected to have a very positive impact on Greek economy and especially in tourism sector with an additional increase of 1,000,000 tourists per annum.
The basic design of the project includes the upgrading of the beach, residential developments, superregional and local commerce, hotel facilities and recreational areas, utilization of the Olympic facilities and the creation of new sports facilities, a new golf course, venues that highlight Greece’s cultural heritage, educational facilities and research centers etc.
Moreover, within the project’s framework the investors undertake the creation, financing and maintenance of the largest Greek — and one of the largest in the world — Metropolitan Green and Recreational Park, which jointly with the public use green areas of the site will cover and aggregate area of 2,600,000 sq.m. or 42 percent of the entire site. They will undertake the financing and construction of all transport infrastructure, public facilities and utilities networks, all necessary port works, the creation of 50 km of sidewalks and bicycle paths which will create the necessary connection with the existing and the new rail networks, the underground routing of parts of Posidonos Av., the renovation and operation of all listed buildings within the site, as well as the creation of a 1 kilometer beach with free-access to the public. It is mentioned that “Varis-Koropiou” Avenue will connect the “Hellinikon Mega Project” and the modern Athens International Airport “Eleftherios Venizelos”.
This is an important step towards the direction of investment, employment, exploitation of new opportunities and of attracting international capital in the country.
The project will have multiple positive effects on other sectors and activities, it will create new expertise and a very large area will gain immense utility value for millions of Greek and foreign citizens. The contribution to the country’s GDP is expected to reach 2%, securing significant income for the Greek State and social security, which in the span of 25 years, is expected to reach cumulatively 10 billion euros.
Most importantly, this investment due to its size and qualitative characteristics, will install an important development axis in the economy of the country, and especially that of the Attica basin, which will become a reference point for many decades.
According to the competent company Lamda development, the development on Hellinikon is expected to create 10,000 direct jobs and boost the construction and real estate sectors, which have been severely struck during the years of the prolonged economic crisis. At full development the Hellinikon project is expected to employ approximately 70,000 people.
-|| The Hellinikon Mega Project is going to radically upgrade Greece’s position in the international business/investment environment ||-
Hellinikon Mega Project
A new era for Greece’s economy – A new living standard for Athens wider metropolitan area
The new face of the former International Airport of Athens will soon be a fact. In the beginning of 2017 will start the construction of the project. This is definitively the most inspired urban development project ever designed in Athens wider metropolitan area, Greece and worldwide.
-| 2016 will be just the beginning of a long-term turnaround story for Greece’s economy and real market |-
[!] I wish you all from the bottom of my heart a healthy, creative, highly prosperous, blissful and productive 2016 [!]
|> Furthermore, I strongly believe that 2016 will be the beginning of a long-term turnaround story for Greece’s emerging economy and real market with positive GDP growth rate and strong recovery!
Besides, more and more investors and funds from all over the world bet that Greece will survive and thrive!
|> After eight (8) years of deep financial crisis (recession, deflation, frighteningly high unemployment rate and unprecedented demographic collapse) Greece is very likely to return to substantial economic growth from the middle of 2016 onwards. Therefore, we have to make a very serious effort to regain financial stability.
|> [!] We have no option other than fighting up to death for economic freedom [!]
<|> Καλή δύναμη Ελλάδα! Ευτυχές, πνευματοφόρο και παραγωγικό το νέο έτος Πατρίδα! <|>
-|| 2016 αγωνιστικές ευχές σε όλο τον κόσμο ||-
Athens, the capital city of Greece, is one of the oldest cities in the world and now the financial and spiritual center of modern Greece. Particularly, the total population of the metropolitan area of Athens is larger than 3.7 million out of 10.8 million which is the total population of Greece according to the latest official census (2011). Therefore, Athens is by far the largest city in Greece (second largest city is Thessaloniki with a total metropolitan population of about 1.1 million).
The enchanting capital of Greece is the birthplace of some of the most influential philosophers the world has ever known. Furthermore, Athens is known as the birthplace of democracy and the cradle of Western civilization. Consisting of an urban district and metropolitan area, a large city center, Athens offers a confusing blend of both modern and historical features. Major Athens attractions include Acropolis, Plaka District, Ancient Agora (the oldest mall and ‘stock’ exchange market in the world), Erectheum, Temple of Olympian Zeus, Syntagma Square, National Archaeological Museum, Mount Lycabettus, New Acropolis Museum and National Garden.
Apart from the above, the wider metropolitan area of Athens has important modern business centers. In particular Athens and Greece in general are not only history. The capital of Greece is not only a beautiful city with wonderful places and tourism attractions. Athens is also a promising place to invest, providing substantial opportunities, characteristic of an emerging stock (Athens Stock Exchange/ASE) and real market.
[!] Visit Athens & Invest in Greece from 2016 onwards [!] -|| It’s the right time ||-
-|[!] Greece is an emerging economy in its upswing phase [!]|- [A total economic turnaround is coming according to the IMF]
According to the latest version of the World Economic Outlook (WEO) issued by the International Monetary Fund (IMF) in October, 2015, Greece’s real GDP is projected to decrease sharply by 5.4% (GDP growth rate -5.4%) in the 4th quarter of 2015.
However, the Greek economy is projected to increase significantly by 3.0% in the 4th quarter of 2016 according to the IMF!
Particularly, during 2016 and more especially from the 2nd half of the year, a total economic turnaround is going to come after a destructive period of more than eight (8) years of deep recession or anaemic growth (during 2014) which had as a main result the GDP decline by more than 26%, while the total GDP decline may reach the percentage of 28% by the middle of 2016. Furthermore, a large number of Financial Analysts worldwide strongly believe that Greece could be from 2016-2017 onwards one of the fastest growing economy in Europe and one of the most fast-growing emerging (stock) market around the world!
Therefore, Greece could be treated as an emerging economy and market in its upswing phase. As a consequence, new investments opportunities will arise in the coming years from several promising economic sectors of the Greek market like Stock Market*, Greek RES** Market, Greek Tourism Sector, Maritime Sector, New Technologies and Research, Agricultural Sector and Logistics.
[!] Greece 2016-2017: From Crisis to Investment Opportunity [!]
*Greek Stock Market via Athens Stock Exchange (ASE), **Renewable Energy Sources (Large-scale Wind, Solar and Biomass Energy Investments).
[!] Seize the opportunity and invest in the future by investing in the Greek real market [!]
[!] Road to Grecovery [!]
New Updated Forecasts by the IMF
Find and read the full (230-page) report of the World Economic Outlook (by the IMF) here:
~| Ελλάς 2016-2017 = Bιώσιμη Οικονομική Ανάπτυξη ή Θάνατος (GR)|~
(!) Greece 2016-2017 = Sustainable Economic Growth or Death (!)
(!) Griechenland 2016-2017 = nachhaltiges wirtschaftliches Wachstum oder Tod (!) [DE]
-|GREECE|- [!] A Place Really Worth Visiting [!] (+) [!] A Video Really Worth Watching [!] |See You In Greece!|
Greece is one of the most popular tourist destinations in the world. With more than 16,000 kilometers of coastline, more than 6,000 islands and islets (of which 227 are inhabited), historic sites that span four millennia, idyllic beaches and towering mountain ranges there is a wide variety of tourist attractions in Greece to explore. And despite the deep financial/debt crisis, Greece as a travel destination is as popular as it has ever been.
The competitive advantages of Greece, such as rich cultural heritage, unique natural beauty and geographical variety, have been attracting remarkable tourism investments in recent years, thus further strengthening Greece’s image as an ideal destination both for holidays and tourism-related investments.
[!] Keep Calm & Visit Greece [!]
|| See You In Greece ||
(!) A Video Really Worth Watching (!)