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Sithonia. The largest area has been suggested by
the municipality of Kozani (64 square kilometres).
The MEECC is processing the data in order to
assess which of these lands are eligible for inclu-
sion.
When “Project Helios”, which has the backing of
both the European Commission and Germany,
comes fully on-stream, it is expected to export 10
Gigawatts of electric power. The total investment
will amount to almost 20 billion euros. It is expect-
ed to create 60,000 new jobs. Equity participation
stands at 4.7 billion euros, while project gearing is
set at 14.2 billion euros. Total net cash flow is esti-
mated at 40.2 billion euros, while tax revenues
are estimated at 7 billion euros. The generation
and export of power during the first year of the
project's operation is expected to reach 2
Gigawatts, gradually rising to 10GW by the fourth
year.
Approximately 20 billion of these revenues can be
used for reducing Greece's debt through the
securitization process.
The MEECC , in cooperation with the European
Commission, is assessing the most appropriate
routes of interconnection with Europe. One of
them is the “West Balkans” route, which provides
for Greece's overhead interconnection with
Albania. There is also the “Eastern Balkans”
route, utilizing the Greece-FYROM interconnec-
tion. Two other alternatives are the sub-sea and
Trade with Greece
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