Guggenheim Partners financial services firm act as strategic and financial advisor with the National Bank of Greece, financing, structuring and the deployment in stages of the project 10 GW solar Greece Helios.
By Kari Williamson
The project of multiple phases, which is set to deploy 10 GW of solar photovoltaic (PV) energy by the year 2020, will be developed in line with the European transport infrastructure. The first points to 2 GW.
"The promotion of electricity from renewable sources is a European Union priority," said George Papaconstantinou, Minister of the environment change, energy and climate change of the Hellenic Republic.
"Helios solar energy project implementation as it promotes the security and diversification of energy supply, protecting the environment, and contributes to the long-term social and economic cohesion of the EU."
Greece has already simplified the process of obtaining permits and is the fast lane large scale strategic investment that includes renewable energy projects, in their attempt to reach 29 per cent renewable energy input by 2020.
The economic recovery
The solar PV project revenues are intended to be used to reduce the Greek debts.
President of Guggenheim Partners, Todd BOEHLY, says: "Guggenheim has been actively working with Minister Papaconstantinou and his team to the Greek and European leaders highlight the substantial benefits of this project."
"Helios is more than an innovative solution of energy - that represents an important step in the economic recovery of Greece, which also helps to achieve many of Europe's broader goals."