ECONOMY

New licenses for solar projects suspended

Greece?s Energy Ministry temporarily suspended issuing licenses for new photovoltaic projects as part of measures to restore liquidity to the Greek power market.

Greece has already exceeded its 2014 target for installed capacity from photovoltaic plants of 1,500 megawatts, the Athens-based ministry said in a statement on Friday.

The ministry will also reduce the guaranteed prices for solar electricity production, among the highest in Europe, according to the statement.

The country?s energy regulator on Friday approved an increase in a special renewable energy tax paid by consumers and companies. That levy is used to compensate LAGIE, the power market operator, which has to pay the difference between the final price charged to the end user and higher guaranteed prices for renewable energy producers.

LAGIE will also receive 25 percent of a levy collected to fund state broadcaster ERT and a loan from the Greek Deposits and Loans Fund, the statement said.