Wednesday, March 29, 2023
Sunday, 11 December 2022 22:35

Transatlantic partnership to advance energy security and the clean energy transition

H.E. Geoffrey R. Pyatt, Assistant Secretary, Bureau of Energy Resources- U.S. Department of State, stated:

“Greece will continue to play a central role in European energy security and energy transition and be a strong, stable partner for the United States and U.S. businesses. Now that Russia has demonstrated once and for all that it is an unreliable supplier of energy, Greece’s role as an energy hub for southeastern Europe, with access to supplies from around the world, is more critical than ever. American LNG suppliers and service providers have ramped up their exports to Greece and the rest of Europe.

Greece’s emergence as an energy hub was made possible by years-long investments in projects like the Interconnector Greece-Bulgaria, the Revithoussa LNG terminal, and the Trans-Adriatic Pipeline. Its regional importance will continue to grow when the Alexandroupoli FSRU and the Interconnector Greece-North Macedonia come online. Improving and expanding this type of infrastructure while minimizing its carbon footprint present yet another promising area for investors to consider.

Greece hosts a burgeoning renewable energy sector, with potential for growth in wind, solar, and green hydrogen. The $369 billion in the recently passed Inflation Reduction Act will greatly spur research, development, and market deployment of these technologies both in the United States and abroad. American ingenuity and investment acumen will play an important role in boosting this sector. This strongly complements Greece’s efforts to leverage EU recovery funds to fuel its leadership on the green transition.

There are many fantastic examples of Greek leadership in the energy transition, from Prime Minister Mitsotakis’ bold decision to accelerate the phaseout of lignite, to the pathbreaking example of Boston-based Advent Technologies’ Green HiPo hydrogen project in Western Macedonia and the rise in wind power investments from American companies like 547 Energy and Ameresco. Meanwhile, Greek battery company Sunlight is expanding its manufacturing operations in the U.S. to supply the thriving market for energy storage, and Hellenic Cables is investing in a greenfield manufacturing plant in Maryland that will replicate its Corinth facility. These transatlantic investments demonstrate how the clean energy transition is a win-win for all our economies, and for the planet.

At COP 27 in Egypt, the United States and Norway launched the Green Shipping Challenge, which will generate investment opportunities in Greece, a leader in the shipping industry. Compared with country emissions, shipping ranks among the top 10 largest emitters globally. The Challenge encourages governments, ports, and companies to commit to initiatives that will decarbonize the shipping sector, a goal which Prime Minister Mitsotakis has highlighted.

U.S.-Greece relations continue to be strong – politically, economically, and militarily. We celebrate our investor partnerships and will continue to strive for energy security for Europe this winter and beyond, all while growing investment in the clean energy transition. Greece is seen as an attractive investment destination, and the U.S. government looks forward to working to support American energy businesses interested in investing in or creating joint ventures in Greece, as we also welcome investments by Greek companies in the United States.”

“Sustaining Growth & Investment Momentum”
The agenda, topics and structure of this forum through 21 Sessions and 76 Top Level Speakers have been designed to conform with investor interests and requirements. It combines the Greek and US government perspective, with that of private sector executives, international financiers and international investors. Greece has made a notable rebound in the eyes of both the global capital markets and the international investment community in recent years. The impressive number of incoming American investments in the country proves that the government's efforts to improve the business and investment climate have been more than effective. The significant transformation of the country’s investment and economic climate has resulted in a flurry of new and exciting investment activity in the country, signaling a new path forward for Greece, one of modernization, stability, and trust. This new era of economic growth is due in part to ambitious reforms, immense brainpower and entrepreneurship, and hope for the future in Greece, making the country an appealing destination for foreign investors.

H.E. Christos Staikouras, Minister of Finance, Keynote Speaker of the Conference, presented Greek Government’s economic strategy, and his speech was titled “Government Economic Policy & Objectives“.

H.E. Adonis Georgiadis, Minister of Development and Investments, and Mr. Nikos Stathopoulos, Chairman of Europe - BC Partners were the Keynote Speakers at the formal Luncheon.

Introductory Speeches were made by: Mr. John Tuttle, Vice Chairman – NYSE ; President NYSE Institute, Mr. Yianos Kontopoulos, CEO - ATHEX Group, Dr. Nikolas P. Tsakos, Founder, President & CEO - TEN Ltd., and Mr. Takis Georgakopoulos, Global Head of Payments, Managing Director - JP Morgan.

One-On-One Meetings
The Conference provided foreign investors with the opportunity to network through a variety of "one-to-one meetings" with Institutional Investors representing large foreign funds with investment interest in Greece, with listed and non-listed companies, as well as with members of the delegation of the Greek Government. In cooperation with the investment banks that support the Forum, group sessions were organized for: H.E. Christos Staikouras, Minister of Finance, accompanied by Mr. Michael Arghyrou, Chairman of Council of Economic Advisοrs • H.E. Adonis Georgiadis, Minister of Development and Investments • H.E. Theodore Skylakakis - Alternate Minister of Finance • H.E. Konstantinos Skrekas - Minister of Environment & Energy.

Greek American and International Media
The representatives of the government and of the participating companies met with the Greek American Media that covered the Forum as well as with representatives of International Media. H.E. Christos Staikouras, Minister of Finance gave interview to Bloomberg. H.E. Konstantinos Skrekas - Minister of Environment & Energy, gave interview to Wall Street Journal – WSJ.


The Forum concluded with an official dinner with Opening – Welcome Remarks by Mr. Edward Mermelstein - New York City’s Commissioner for International Affairs, on behalf of Eric Adams, Mayor of New York City, who welcomed the dinner’s attendees. Mr. John Kalafatis, CEO - NU Boyana Hellenic Film Studios delivered Introductory Remarks.

H.E. Alexandra Papadopoulou, Ambassador of Greece to the United States, and Mr. Yianos Kontopoulos, CEO – ATHEX Group delivered Keynote Remarks. During the dinner Mr. Panos Papazoglou, Managing Partner - EY Greece, was honored with the “2022 Capital Link Hellenic Leadership Award”, for his outstanding contribution to Greece.

Mr. Lazaros Papagaryfallou, General Manager/CFO – Alpha Bank, introduced the Honoree Mr. Panos Papazoglou, Managing Partner - EY Greece, who delivered Keynote Remarks.



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