Memorandum of understanding (MOU) between the German energy group RWE and DEI (Public Power Corporation) for the production of high capacity energy.

Despite the fact that various international events were cancelled because of covid-19, the conference room of the German Economy Hall in Berlin was crowded last Monday. The plan b for the postponement of the Hellenic-German Economic Forum was ready, but German Chancellor Angela Merkel and Kyriakos Mitsotakis had such strong will for the event to take place, that all suggestions for postponement or cancellation were denied.

The Forum, which had the ambitious title "Vision and Opportunities for Investment", not only took place, but was crowned with great success. It was organized by the Hellenic-German Chamber headed by the
President Mr. Konstantinos Marangos, the member of the Board Mr. George Paterakis (pictured with Mrs. Merkel in the photo) and General Manager Athanasios Kelemis. More than 350 companies from Germany and Greece that represented many different sectors of the Economy were at the forum, exceeding the expectations of even the most
optimistic.

The situation may have forced Angela Merkel and Kyriakos Mitsotakis to refer to their interventions both in the difficult situation on the Greek-Turkish border and in the big problems created by the coronavirus, however the aim of the event, which was to stimulate the interest of German investors to operate in Greece, was pervasive in the
event hall, but also in the tables that had been set up from both sides, for investment opportunities.

Most important is the signing of a Memorandum of Understanding (MoU) by the German energy group RWE and DEI for the production ofhigh-capacity energy in the region of Western Macedonia, which is at the center of de-lignification.

The positive atmosphere that prevailed at the Forum was sealed with the great interest of participation of German companies in this year’s Thessaloniki International Fair, in which Germany will be honored. Kyriakos Mitsotakis addressed an invitation to Angela Merkel to lead the business delegation of her country but also to prefer Greece for this yeaρ’s holidays. The German chancellor left the possibility of being in Thessaloniki at the beginning of September open, when the TIF will open its gates.

In the right track

The Greek delegation that traveled to Berlin was high standard both in business and in politics. The Prime Minister and the Minister of Development and Investments, Adonis Georgiadis, were accompanied by a number of Deputy Ministers and other officials who were available to present to German businessmen the new business environment
created in our country and the opportunities that open up. The chancellor as well as others, spoke highly of the “right track” that they see in the Greek economy.

“Anyone who attended the very interesting speeches and presentations, will certainly have no doubt that Greece is at the beginning of a new development period that began after last July’s elections”, said the Undersecretary of State for Economic Diplomacy and Foreign Affairs, Konstantinos Frangogiannis, who summarized the conclusions of the Forum.

He emphasized the great interest shown by KFW and the EIB in financing green energy projects. The “National Energy and Climate Plan” envisages investments of 43.8 billion and 60,000 new jobs in the next decade. Greece “has ambitious and realistic goals” and wants Germany as a strategic partner, seeking ways to cooperate in the green economy and related productive sectors.

The government’s commitment to phase out lignite by 2028 is a temptation for attracting German investments. The goals that have been set ,”promote” Greece at the forefront of Europe in the transition to clean energy, with ultimate goal, as stressed at the Forum, the transformation of PPC into a green and innovative energy giant. The
company’s new business plan envisages a shift to Renewable Energy Sources (RES), operational reconstruction through new technologies and the growth of electrification with 1,000 charging stations and 10,000 in the mid-term. On the sidelines of the Forum, the German energy group RWE and PPC signed a memorandum of understanding (MOU) for the production of high-capacity energy in the region of Western Macedonia, which is at the center of the post lignite era.

The Greek side also emphasized in the field of new technologies, innovation and start-ups, which our country has “excellent and trained human resources”, as it was said. As pointed out, the Greek ecosystem is small in number but very dynamic. Small Greek companies are looking for international partners to increase their scale. Particular
reference was made to the experience of Beat, which through its cooperation with Mercedes has become a world leader in the field of urban transport of the sharing economy.

The cooperation between the two countries in the field of tourism, which is already very developed, was also underlined. Greece hosted 4.5 million German tourists in 2019 and the prospects are favorable for the tourist flow from Germany to continue to move upwards.

Moreover, Fraport’s investment in Greek airports has contributed to attracting other German investments in the wider sector. In any case, Germany has been the number one investor in Greece in recent years, while the Berlin Forum showed that there is significant room for further growth, especially based on the new improvements in the licensing framework in the field of strategic investments.