Chinese Investments in Greece over the years have brought renewed vigour to the country’s economy, with an injection of new capital, advanced technologies and job opportunities.
In 2017, China Energy Investment Corporation, one of the world’s largest power companies, purchased 75 percent of the shares of four Greek wind farms from Greece’s Copelouzos Group.
The 4 wind farms were owned by the Greek company, whose construction encountered capital shortage when Greece was trapped in a sovereign debt crisis.
Standing at the border stone between Greece and Bulgaria, Li Zao, General Manager of Europe Renewable Energy Company under the China Energy Investment Corporation, said the four wind farms are with an installed capacity of 78,200 kilowatts in this area.
Panos Moschandreou, business development director of Copelouzos Group, said the two companies have conducted satisfactory cooperation.
“The outcome of the collaboration is visible. We already have joint ventures with China Energy since 2018. We feel confident this will expand further and we’ve been very satisfied to collaborate and be partners and shareholder with China Energy,” said the Director.
Besides capital and technologies, the Chinese enterprise also brought its knowledge and expertise in advanced technologies on wind power.
“The four wind farms cut 160,000 tons of carbon dioxide emission and save 55,000 tons of coal equivalent annually. We have employed local workers in the construction and operation of our wind farms, which greatly boosts local employment,” said Li.
Local residents also hailed the investment and capital brought by the Chinese enterprise, but most importantly, they praised the company for their contribution in various other field such as energy conservation and emission reduction and employment.
“It’s a pleasure to join China Energy. It provides safety. It’s a great company,” said Stavros Thomaidis, a civil engineer of the company.
“When I decided to join the China Energy Group, I thought it was a great opportunity for me,” said Nikos Mavranezoulis, an Electrical Engineer of the company.
China and Greece are also conducting more cooperation in various fields thanks to the Belt & Road Initiative.
Moschandreou said Chinese President Xi Jinping’s visit to the country signifies the friendship of the two Countries. “This visit is of great importance. It actually signifies the very good Sino-Greek relationship.
It is evidence how close and proper the two countries are discussing and it provides a platform for Sino-Greek companies to exploit as this kind of events basically provide opportunity to enhance and deepen the roots for collaborations and bilateral benefit,” said Moschandreou.