PM Kyriakos Mitsotakis said Greece planned to turn into a regional clean energy exporter during a panel discussion focusing on the “European Green Deal”, speaking on Thursday morning at Davos, Switzerland where the annual WEF is being hosted.

Referring to the protracted timeframe the EU demands from companies before granting licenses in the common energy market vis-a-vis the US – it takes 2 years in the US and 6 in the EU – Mitsotakis, recognized that “red tape” and state restrictions acted as deterrents for potential investors harming the EU comparative advantages.

The PM said while Greece was currently a net energy importer it intended to transition into an energy provider initially covering the needs of neighboring Balkan states through “robust interconnections, pipelines, storage units, and liquefaction,” due to the country’s advantageous geographical position.

He went on to say that Greece aimed to become an exporter of green energy, leveraging advantages, such as wind energy. “If you look at the map of the Mediterranean, you’ll see that Greece is in a location where constant wind and air flow are observed. Therefore, we could harness wind energy, but to do so, we must ensure the necessary connections,” he pointed out.

Mitsotakis, who is scheduled to meet with EC President Ursula von der Leyen on the sidelines of the WEF, will also have contacts over his two-day participation in the Forum with stakeholders to showcase the benefits of investing in the Greek economy, especially after its upgrade to an investment grade.