Saturday August 30, 2014 Search
Weather | Athens
31o C
24o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Renewable energy producers fear loss of investment due to revenues tax

By Natalie Weeks

Greece’s new tax on the revenue of renewable energy operators risks deterring investors just as the government is trying to spur economic growth, producers said.

“What we have is the sudden adoption of policies without any kind of study to back them up, so how can you discuss improving the investment climate?” said George Peristeris, president of the Greek Association of Renewable Energy Producers at a presentation in Athens today. Peristeris is also the chief executive officer of Gek Terna SA, a Greek construction and energy company.

The government passed a new round of austerity measures last month to secure continued financing under two international bailouts from the European Union and International Monetary Fund. The measures included a tax on revenue of existing renewable energy plants to reduce a deficit created by subsidy payments to the industry.

“At the same time that the prime minister is saying Greece’s big bet is investment and growth, holding a series of meetings with multinational companies on the subject, the decisions of the government not only don’t bring new investors but cancel already planned investments and turn away local and international investors,” Peristeris said

Greece needs stable tax policies and market regulation so that investors can make long-term plans, Dimitris Lalas, board member of Greek Wind Energy Association, or Eleaten, said.

Prime Minister Antonis Samaras has said that taking steps to attract investments is a key to the recovery. Greece’s economy, in its fifth year of recession, is expected to shrink 4.5 percent next year, according to Finance Ministry forecasts released Oct. 31.

About 260 megawatts of licenses for wind parks have been withdrawn until now, including 100 MW of licenses submitted by the Greek unit of France’s Electricite de France SA. Total installed capacity for wind energy was 1,740 MW in October, according to a document handed out at the meeting. Renewable energy investments in Greece totalled 3 billion euros ($4 billion) in 2011 and 2012 through October, the document showed.

[Bloomberg]

ekathimerini.com , Thursday December 20, 2012 (10:55)  
Ministry launches work experience program for unemployed graduates
Tax burden in Greece among EU’s heaviest, study reveals
Coalition bent on protecting weaker groups
Loaded agenda for Paris talks
New Democracy aims to ease tax burden, attack SYRIZA’s policies as leaders’ Thessaloniki speeches near
New Democracy is to follow a two-pronged strategy in the coming days as it attempts to win over voters by pledging to tend to their tax concerns while also mounting a campaign to discredit S...
Infrastructure Minister assures officials over coastal revamp
A radical overhaul of the southern Athens coast at Faliro Bay will be put to tender in December, Infrastructure Minister Michalis Chrysochoidis said Friday at a meeting with officials from t...
Inside News
SOCCER
Tough draw for Greek sides in Europe League Greek stage
Following Thursday night’s high, when all three Greek teams competing in the Europa League made it into the group stage of the competition, a harsh reality struck Friday as they found out wh...
JUDO
Greek judoka Iliadis triples up as Aguiar stuns Tcheumeo
Greek star Ilias Iliadis claimed his third world title in the under-90kg category in Chelyabinsk on Friday as Brazilian Mayra Aguiar and Colombian Yuri Alvear won gold in the women’s under-7...
Inside Sports
ANALYSIS
Greek quest for debt relief faces hurdles in Paris
As Greek Prime Minister Antonis Samaras tries to follow Ireland and Portugal out the bailout exit door, he faces a month of bargaining. For a nation that’s already gone through the biggest d...
COMMENTARY
Stifled dreams
At more or less the same time every year, we see the same images of high school graduates looking through the Education Ministry’s lists of those who passed and those who failed the national...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Ministry launches work experience program for unemployed graduates
2. Tax burden in Greece among EU’s heaviest, study reveals
3. New Democracy aims to ease tax burden, attack SYRIZA’s policies as leaders’ Thessaloniki speeches near
4. Coalition bent on protecting weaker groups
5. Infrastructure Minister assures officials over coastal revamp
6. Deadline for ENFIA tax pushed back to September 30
more news
Today
This Week
1. Strong undersea quake occurs off island of Milos, felt in Athens
2. Greek quest for debt relief faces hurdles in Paris
3. Dozens of migrants intercepted in the Aegean
4. Gov't jet carrying Venizelos back from Turkey conducts emergency landing
5. Rendi shootout leaves would-be hypermarket robber dead
6. Tight security in place for City of Athens ceremony as GD MP, supporters to attend
Today
This Week
1. Attack on gay couple in Athens leaves one man needing surgery
2. Purification rituals
3. The battle against progress
4. Thessaloniki mayor Boutaris sworn in wearing yellow star amid Golden Dawn protests
5. Athens finalizes Paris talks goals
6. Strong undersea quake occurs off island of Milos, felt in Athens
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.