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overhead interconnection between Greece and
Italy, as well as the Adriatic Sea route, which pro-
vides for sub-sea interconnection with Italy and
overhead interconnection via Italy and Austria.
The latter solution may enable the direct trans-
mission of the entire 10GW capacity, albeit at a
much higher cost.
Moreover, a special EU project provides for
investments of 4-5 billion euros in European elec-
tricity grids.
The “Project Helios” law
The Law provides for the establishment of a com-
pany under the name “Project Helios SA.” The
company has a five-member board, a share cap-
ital of 1 million euros and a duration of 99 years.
It is supervised by the Minister for the
Environment, Energy and Climate Change, and
its purpose is to investigate and estimate the
country's solar energy potential.
Moreover, it reports to the Minister for the
Environment, Energy and Climate Change on the
locations of parcels appropriate for the installation
and operation of solar energy power plants.
These properties shall be managed by the com-
pany on behalf of the Greek State, or their own-
ers, according to case. The latter must cede, free
of charge, all operation and exploitation rights to
“Helios Project SA”.
The company may obtain public entity and munic-
ipal properties by either paying a price, or leasing
them, for the development of PV stations. It is
also entitled to create companies of all types.
These companies will acquire the management
and use rights, as well as ownership rights on
properties managed by, or ceded to, “Helios
Project”. The company can also outsource the
preparation of plans or studies regarding the
implementation of the Project, sign concession
agreements with third parties and participate in
other companies or joint ventures.
“Project Helios” will be entitled to sign agree-
ments with strategic investors and construct RES
power plants via fast-track procedures.
The company shall also be able to form sub-
sidiaries responsible for setting-up or operating
Trade with Greece
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