- Greek Bonds – Greece attracted record demand for its first sovereign bond issue since the country regained its investment grade rating late last year. The 10-year syndicated bond issue raised €4 billion at a 3.5% yield and was more than 8 times subscribed, attracting €35 billion in bids. This year, Greece seeks to raise €10 billion on international debt markets, according to the Public Debt Management Agency borrowing program.
- Athens Airport – Greece has completed the privatization of the Athens International Airport – one of the country’s largest privatizations in years – with the initial public offering of a 30% stake on the Athens Stock Exchange. The IPO raised €785 million with the sale of 300 million shares. The airport is the key entry point for foreign visitors to the country, and last year AIA served a record 28 million passengers.
- Renewable Energy – Greece set a new record for renewable energy production last year, according to the country’s national grid operator. In 2023, power produced from wind, solar and hydroelectric sources accounted for 57% of total production, an 8.5% increase from 2022. The latest data from the Independent Power Transmission Operator, underscore Greece’s efforts to become a major producer of clean energy for Southeast Europe and beyond.
- Solar Power – Almost three quarters of all new renewable power capacity installed last year was in solar systems, according to the Hellenic Association of Photovoltaic Companies. “In 2023, the Greek PV market installed more megawatts than any other technology, as a result of the huge investment interest that continues unabated,” the Association said. “Specifically, PV made up 74% of all new installed capacity from renewables.” Last year, 1.6 Gigawatts of peak power capacity (GWp) was installed in Greece raising the cumulative peak capacity to 7,087.5 GWp.
- Technology Park – Greece published the Presidential Decree governing the land use and development of Greece’s first 4th generation technology park, ThessINTEC, clearing the way for construction to begin on the landmark project. Located on a 76 hectare site in eastern Thessaloniki, the park is expected to begin operations next year and is central to the city’s efforts to become a technology hub for Greece and the region.
- Golden Visa − The Greek government is planning to raise the minimum threshold for Golden Visa applicants investing in real estate to €800,000 in high demand areas, Prime Minister Kyriakos Mitsotakis said in remarks to Parliament. The move reflects the ongoing success of the program, which has brought in more than €1.5 billion in investment since it was launched in 2014. Last year, the government doubled the minimum threshold to €500,000 for qualifying properties in the center of Athens and Thessaloniki, as well as the popular tourist islands of Mykonos and Santorini.
- Defense Deal – The U.S. Department of State has approved the sale of up to 40 F-35 fighter jets to Greece in a deal worth $8.6 billion. The sale is part of an ongoing, multi-billion euro defense modernization program that Greece is implementing to upgrade its air, land and naval capabilities.
- Space Accords − Greece has signed the U.S.-led Artemis Accords, a set of non-binding principles governing future activities on the moon, becoming the 35th country and 12th member of the European Space Agency to join the pact. ESA is one of the partners to U.S. space agency NASA in the Artemis program, which aims to return astronauts to the moon for exploration and utilization. The signing followed the 5th round of the Greece-U.S. Strategic Dialogue in Washington, DC.
- Marriage Law – Greece’s parliament approved by a vote of 175-77 a law allowing same-sex marriages. It joins 15 other European Union countries to do so and is the first country in Southeastern Europe to recognize marriage equality.