From the start of the earlier decade, when Greece entered the journey of the memorandums, there have been numerous headlines within the print and digital press, concerning the involvement of Arab funding funds in Western Greece, situations which, nevertheless, till right this moment had resulted in wrecks.
The contacts had virtually began with the Emirate of Qatar by the Karamanlis authorities in 2008. They continued with George Papandreou in 2011, Antonis Samaras in 2013, till Kyriakos Mitsotakis, with one aim, appeal to petrodollars.
Within the final 15 years, islands and lands have been purchased, hundreds of guarantees have been made, plans and plans have been made, tens of millions of euros have been spent, dozens of trials have been held, as many lawsuits, lawsuits and appeals, fines, and so on. nevertheless the consequence thus far has been nearly nil.
One in all Greece’s first contacts with Qatar
In September 2010, a couple of months following Kastellorizo, then Prime Minister George Papandreou agreed with Qatar’s head of state Hamad bin Khalifa Al Thani on a memorandum of financial cooperation for the unbiased emirate to take a position $5 billion within the port of Astakos in sectors reminiscent of actual property, tourism, power, and so on.
Two years following the Lobster fiasco, the Qataris returned to the realm with yet one more bold plan, this time with the acquisition of an enormous space in Zakynthos, over 10,000 acres above the well-known Navagio seashore, with a purpose to develop it for tourism. Nonetheless, they purchased this space from somebody who the folks of Zakynthos have denounced (and is being prosecuted) as not belonging to him, and right this moment it’s claimed by the Church, the State and regarding 200 residents of the island. And this case, “has, virtually, been blown up” following authorized entanglements.
On the identical time, the royal household of Qatar, by means of varied funding schemes, proceeded to buy the island of Oak throughout from Aitoloakarnania, with one other bold plan to rework it into an “artwork island” as dreamed by the daughter of the previous emir Hamad Bin Khalifa Al Thani, Mayasa .
The funding included galleries, museums, motels, artists’ residences, theaters and different artwork venues, helipads, marinas, and so on. investments that exceeded 300 million euros. Nonetheless, even these plans, following authorized disputes with the architectural workplace that had undertaken the funding, have been shaken within the air. Because it was revealed, the islet belonged to the Natura zone. Because of this the Emir might construct there a farmhouse of 80 m2, a bee backyard and a vegetable backyard.
As well as, sooner or later, the DOU of Patras imposed a positive of 9.5 million euros for the switch tax of the island, out of the five hundred,000 euros it had initially set. In the intervening time the islet of Oksia is because it was and apparently Emir is paying ENFIA.
In 2019, with the change of presidency, Qatar’s ambassador to Greece acknowledged that curiosity in Oksia and Zakynthos is rekindling.
As we speak nothing has progressed.
And whereas the emirs of Qatar might have had no funding luck thus far in Western Greece, their counterparts in Abu Dhabi of the United Arab Emirates have “set foot” for good on present investments in Aitoloakarnania.
Abu Dhabi Future Power PJSC – Masdar (“Masdar”), the clear power chief of the United Arab Emirates, introduced a couple of days in the past that it has reached a definitive settlement with GEK TERNA S.A. and different shareholders of TERNA ENERGY, for the acquisition of the latter.
TERNA Power is an organization instantly linked to Etoloakarnania, because it has in full progress the development works of its mega mission, the 680 MW Pumped Storage Station in Valtos of the municipality of Amfilochia. Furthermore, in Oreno Valto, in Avlaki, the corporate additionally operates a hydroelectric dam.
Nonetheless, TERNA Power has in its plans massive power initiatives additionally within the synthetic lakes of Kastraki and Stratos (the general public session on the EIA has been held), with a few of them and particularly the set up of floating photovoltaics, encountering reactions from the native communities.
The transaction and the next supply correspond to a complete valuation of TERNA ENERGY at 2.4 billion euros, and an enterprise worth of three.2 billion euros, making it the biggest power transaction ever made on the Athens Inventory Change and one of many largest within the European market renewable power sources.
The settlement is predicted to supply vital capital funding in Greece and different European international locations, supporting TERNA ENERGY’s contribution to Greece’s Nationwide Power and Local weather Plan (NECP) and the EU’s aim of zero emissions by 2050. The proposed acquisition demonstrates the size and ambition of Masdar’s growth plans within the area and additional cements its function as a trusted international power transition accomplice for governments, traders, growth companies and communities around the globe.
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