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Ministry of Environment, Energy and ClimateChange of the Hellenic Republic

Project HeliosThe Greek Solar Energy Project

Hamburg, 5th September 2011

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Why Helios

The context

The market

The opportunity

The framework

The project

The benefits

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The context: Statement by the Heads of State or

Government of the Euro area & EU institutions

Brussels, 21 July 2011

We call for a comprehensive strategy for growth and

investment inGreece totargetthestructuralfundson

competitiveness and growth,job creation and training.

WewillmobilizeEUfundsandinstitutionssuchastheEIB

towardsthisgoalandrelaunchtheGreekeconomy.

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The market: EU Solar Sector

EUaccountsfor74%ofglobalmarket

2010EU:13,300MWnewinstallationsvs.100MWin2001

Germany:globalmarketleaderinSolarPV

Smartincentiveschemes (FeedinTariffs)

202020 RESPolicy:BindingDirective2009/28/EC,NationalRenewableEnergyActionPlans

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The opportunity: Helios - The power of the sun

EuropeanSunRadiationLevels

Greeceenjoys300daysofsunshineayearandalmost50%moresun

radiationthanGermany,theglobal

leaderinsolarPV

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Why Greece?

Producing where the resources are!

Solarintensitymeans potentialisfargreaterthanpresenttargetsfor2020

CanbetappedtothebenefitnotonlyofGreece,butofotherEU countriesaswell(averageannualsunIrradiationforGreece1800KWh/m2,visvis

1285KWh/m2forGermany)

AccordingtotheErnst&YoungRenewableenergycountryattractivenessindices report, Greece isin6thplaceamong35countries,regardingthe

solar index (takes intoaccountpowerofftakeattractiveness, taxclimate,marketgrowthpotential,installedbase,recoursequalityandprojectsize)

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The RES framework in Greece

NationaltargetforRES:20%on finalenergyconsumption,2%abovethemandatory18%setby2009/28/EC

Specific targets for RES electricity (40%), RES heating and cooling(20%)andREStransportshare(10%)

TargetedcapacityforsolarPVby2020=2200MW,10GWofPVfortheyear2050

Forthefirsthalfof2011totalinstalledcapacitywas274MWanditisestimatedtoreach400MWbyendyear

Plan foresees Interconnection of mainland Electricity TransmissionGridwiththeislands

reserve and storage units (2 GW of pumped storage plants by 2020and4GWofpumpedstorageplantsby2050)

Simplification of licensing procedures and designation of shorterissuingdeadlines

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Helios the Greek Solar Energy Project

ExportingcleanenergyfromthesouthtothenorthofEurope TheHelios project aims to render Greece the showcase of

SolarPVdevelopment inEuropesSunbeltandthemaindriver

ofthecountrys greeneconomicgrowthby:

monetizinganabundantnaturalresource (solarenergy)

creating favorableconditions forsustainabledevelopment in

thesolarenergysector

facilitating otherMemberStates inachieving their 2020 RES

targets by offering more attractive investment returns for

solar PV projects (higher yields for the same cost of

investment)

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Helios- Project Scope

Thetarget:toproduce3to10GWofsolargeneratedelectricity

(Atanaverageinvestmentcostof2m/MWtheinvestmentfor10GWis

approximately20billionEuros)

Themethod: DevelopacooperationmechanismwithotherEU MemberStatesundertheEuropeanRenewableEnergyDirective:

Statisticaltransfer(Article6)

Jointprojects(Article7)

Jointsupportschemes(Article11)

ProjectHelios presentsamutuallybeneficialcooperationscheme.Amember state with low or expensive RES potential (the receiving

state) can use renewable electricity produced in another country with

higherRESpotentialandlowerproductioncosts(theexporting state)

tocomplywiththeirnationaltarget,achievesignificantcostsavingsand

facilitatetheachievementoftheoverallEuropeantargetfor2020.

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Helios-Project Framework

Underthecooperationmechanism,theHellenicRepublicwillprovideanallinclusive platform toencourageandfacilitateinvestmentsin

thesolarsector,bypresentingpotential investorswithturnkey

fully licensed project SPVs in specific stateowned site locations,

freeofanyadministrativeandbureaucraticbarriers. Thisentails:

Appropriatelyselected Stateowned landparcelsacrossGreece.

Achievingatargetof10GWinsolargeneratedelectricityrequires

approximately 200 Km2 of land. The parcels will be leased out

foraspecifictimeperiod(e.g.25years)

Fully licensed trouble free projects with final stage operating

permits

RelevantconnectionagreementswiththeNationalGrid

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is physical transfer an option?

GriddevelopmentintheENTSOE(EuropeanNetworkofTransmissionSystemOperatorsforElectricity)isaprerequisitetoensureelectricity

marketliberalization andlargescalepenetrationofRES.

EUCommunicationregardingenergyinfrastructureprioritiesfor2020andbeyond givesanOctober2011deadlineforproposalsubmissions

todevelopablueprintforanintegratedEuropeanenergynetwork.

Transmission of 22.5 GW generated from PVs I Greece towardscentral Europe is currently technically feasible with potential

congestionpointtheborderofItalySloveniaHungary

Reinforcing the interconnections between Greece and other EUcountries and the development of interconnections within Greece

(mainlandandGreekislands)willbenecessary.

South to north transmission will require transborder transmissionrightsinallintermediateborders.Undertheexistingframework rights

aregrantedthroughauctioningonayearly,monthlyordailybasis.

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For the investors:Extremelyattractive froman investment pointofview as for the same cost of investment the higher insolation

generatessignificantlyhigherreturnsoninvestment

ForGreece:InvolvessignificantinwardFDI,employment creation,taxreceipts, building up RES capacity, a potential large privatization

project,improvesgrowthprospects

For Germany and other MS : Generates significant cost savings byusingRESproducedinacountrywithhigherRESpotentialandlower

productioncosts,assistsinmeetingthetargetssetbyRESDirective.

ForEurope:Catalysttopromote interconnectionstrategy,promotesEU technology & equipment, fits in perfectly with the European

growthstrategy

TheHeliosprojectisafeasiblemidtermproject,whileotherssuchasthe Mediterranean Solar Plan remain a long term vision, facing

importanttechnological,economicandpoliticalchallenges

Benefits of Helios

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Thank you for your attention

http://www.ypeka.gr