Stassis: The solution for Europe is renewable energy

The Kozani region is undergoing a transformation, shifting from a model of energy monoculture to a new production model based on technology and innovation, emphasized the head of the Public Power Corporation (PPC).

Stassis: The solution for Europe is renewable energy
O CEO της ΔΕΗ Γιώργος Στάσσης

This article is an AI translation of an original piece published in Greek. Read original

He identified the following priorities: supply chain resilience, facilitating international trade, safeguarding against the effects of climate change, and ensuring peace and the free and safe movement of people and goods, said Christos Dimas, Minister of Infrastructure and Transport, speaking at the Growthfund Investor Summit 2026.

Mr. Dimas described Greece as “a bridge of stability connecting Europe, the Balkans, the Black Sea, the Eastern Mediterranean, and the Middle East.” He also noted that: “Just the day before yesterday in Thessaloniki, together with our Bulgarian and Romanian partners, I reaffirmed our commitment to completing the Black Sea–Aegean axis, within the framework of the Baltic – Black Sea – Aegean (BBA) Corridor, and I held discussions with the Western Balkans, Moldova, Ukraine, and numerous investors and financial institutions regarding the acceleration of the infrastructure projects needed to ensure the seamless and profitable operation of the Western Balkans–Eastern Mediterranean Corridor.” 

During the discussion on “Critical Infrastructure, Trade Corridors, and Energy Connectivity,” European Investment Bank Vice President Yannis Tsakiris identified economic stability as the key criterion for attracting international investors. “Economic stability gives us the edge to attract foreign investment in major projects that are important to the country,” he noted. 

Regarding the EIB’s activities, he noted that in 2025, the EIB financed 100 billion euros in investments within the European Union; assuming a leverage ratio of 5, this injected approximately 500 billion euros into the European economy. It identified networks, infrastructure, defense and security, as well as high technology, as priority areas through 2027, emphasizing the stability and resilience of the EU.

“Of course, climate adaptation has remained a key priority for the European Investment Bank for several years now, and, as a consequence of climate change, the water sector—especially for Southern Europe,” noted Mr. Tsakiris.

Specifically regarding the sectors on which Greece should focus, he highlighted infrastructure networks—not so much road networks, but rather rail, water, and energy networks. “When it comes to electricity, we must invest heavily in storage and interconnections—both cross-border and within Greece, he insisted, referring to the EIB’s €1.2 billion in financing for the interconnection of the islands of the North and South Aegean.

He also placed particular emphasis on logistics, highlighting the ports of Alexandroupoli, Thessaloniki, Piraeus, Eleusis, and Lavrio. “I consider all of these to be priorities for the coming years, along with geopolitical outreach,” he concluded, making specific reference to the Greece-Bulgaria-Romania vertical corridor and the India-Middle East-Europe (IMEC) corridor.

Referring to developments in the European energy market, PPC Chairman and CEO George Stassis noted that the energy landscape has changed significantly in recent years, recalling that within a span of five years, Europe experienced two serious energy crises, which led to a surge in energy costs.

In this context, he emphasized that renewable energy sources are the solution for Europe, both for reasons of energy security and economic benefit, as well as for strengthening its competitiveness and strategic independence. As he noted, this approach has now been adopted by the European Commission as well, with the aim of a rapid transition to renewable energy.

He placed particular emphasis on the importance of cross-border interconnections, describing them as crucial for the liberalization of the energy market in Europe. As he noted, Europe continues to lag significantly in this area, despite the fact that the energy crisis cost approximately 650 billion euros to support citizens. In contrast, according to the estimates he cited, the cost of the interconnections required at the European level by 2040 amounts to approximately 150 billion euros. “We are subsidizing the problem, but not the solution,” he said pointedly.

Speaking about solutions that will meet the growing demand resulting from the digital transformation, Mr. Stassis referred to the licensing of the largest data center in the wider region—with a capacity of 1 GW—in Kozani, without increasing electricity bills for Greek consumers. “We are operating responsibly, responding to this new need,” he noted.

At the same time, Mr. Stassis emphasized that the Kozani region is undergoing a transformation, shifting from a model of monoculture energy production to a new production model based on technology and innovation. As he noted, PPC is creating a hub for modern energy technologies, which will provide new jobs and new opportunities for future generations. According to him, the Kozani project simultaneously addresses the needs of both the digital and energy transitions.

Referring to PPC’s international presence, he noted that the group is already active in five countries and is considering further expansion into markets such as Hungary, Poland, and Slovakia, explaining that “the broader region of Southeast Europe has lagged behind for decades, and PPC can play a decisive role in its development.”

For his part, the Superfund’s Deputy CEO, Panagiotis Stamboulidis, spoke about the transformation of the Superfund’s role, noting that over the past three years, investments totaling 3.5 billion euros have been implemented, yielding tangible results across a wide range of sectors, from ports to healthcare infrastructure.

He made special mention of the Port of Alexandroupolis, which he described as a key element of the Hellenic Republic’s strategic narrative, as it serves as a hub through which the country is building strong connections with the Balkans and Northern Europe. As he noted, just last week the port dredging project was completed and handed over, along with its connection to the Egnatia Highway.

He also referred to the Superfund’s active role in advancing projects of strategic importance for the country, citing as an example the project for new ID cards and passports, which is being put out to tender by the Superfund.

He also pointed out that, for the first time, the Superfund is expanding its activities beyond Greece’s borders, leveraging the expertise it has acquired in recent years. As he noted, an intergovernmental agreement has already been signed with Moldova, marking the first time since 2011 that the Greek government has permitted the export of know-how developed in Greece.

Finally, he announced that, through a related government initiative, an additional 500 million euros is expected to be allocated to the Superfund to facilitate the development of new projects in the coming period.

Conner Mieth, Senior Advisor at the Development Finance Corporation (DFC), described Greece as a key hub for the organization’s activities, emphasizing that it is a region of strategic importance to the U.S. government. As he noted, the ever-changing geopolitical environment highlights the need to strengthen connectivity and create alternative trade corridors.

Referring to the IMEC corridor, Conner Mieth emphasized that current geopolitical developments and the growing importance of the Eastern Mediterranean lend new momentum and purpose to this initiative. As he emphasized, this initiative highlights the need for diversified trade corridors and backup trade systems. “For the U.S. government, this region is a strategic priority, he noted.

Referring to the opportunities he sees in Greece, Conner Mieth pointed out that the country serves as an anchor in the Eastern Mediterranean, offering stability and acting as a hub for infrastructure and logistics in the wider region.

According to him, the DFC’s interest is focused primarily on energy infrastructure, digital infrastructure based on energy security, and maritime transport security. He also emphasized that Greece is one of the most important maritime powers internationally, expressing a desire to further deepen cooperation between the two countries.

The discussion was moderated by Konstantinos Angelopoulos, Deputy CEO for Investments at Growthfund.

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