Greece
The office connects Norwegian companies with partners in Greece. Partnerships open doors to project financing as well as to opportunities on the Greek markets, innovative ecosystems and networks of skilled talent.
Opportunities from the EEA Grants (EØS-midlene)
Greece is a beneficiary of the EEA Grants. The EEA and Norway Grants are Norway’s contribution to cohesion and cooperation in Europe. The Grants aim to reduce social and economic disparities and to increase cooperation between the beneficiary countries and Norway.
The programme on Green Business and Innovation in Greece will provide 24,8 million euro to projects on green and blue innovation and promotion of start-ups, female entrepreneurs and supporting the transition to a more circular economy in 2026-2031. The funding is available through open calls for proposals. The aim of the projects is to increase competitiveness in Greece. The applicants and promoters of the projects are Greek companies while Norwegian entities are partners, contributing with knowledge, experience and best practice to the project aim. The Norwegian partners benefit from financing, market entry, networking and learning, testing of solutions and joint results.
Read more about the EEA and Norway Grants here.
Partner search
Innovation Norway’s office in Athens can help connect Norwegian and Greek companies. Any Norwegian entity, including companies or other entities like research institutes, universities, business innovation clusters or others, can be partners in EEA Grants projects.
International initiatives and exports to Greece
Greece’s strong emphasis on maritime industries, renewable energy, aquaculture, and digital transformation positions it as a highly attractive export and partnership market for Norwegian companies seeking to expand their presence in Southern Europe.
Greece as a market
The Greek business environment is dynamic and rapidly evolving, driven by ongoing economic recovery, strategic reforms, and a growing diversification across key sectors. In recent years, Greece has experienced strong economic growth, driven by rapid advancements in technology and innovation, renewable energy, tourism, and infrastructure. This has opened up new investment opportunities across key sectors such as shipping and maritime, offshore wind, and aquaculture.
Opportunities for Norwegian companies in Greece
Greece’s Maritime Sector & Green Transition Opportunities
Greece is the largest ship-owning nation in the world, with around 5,200 ocean-going vessels, mainly bulk carriers and tankers. To modernize its fleet and upgrade its ports for cleaner shipping, the Greek government estimates a need for €2 billion by 2027-2028. EU funding has been secured to support this, but access to green financing remains a major challenge for shipowners.
Greece’s ambitious green fleet renewal program presents a strategic opportunity for Norwegian maritime companies to offer innovative technologies, equipment, and services. Norway’s strength in electric and hybrid propulsion, green technology, maritime digitalization, and port infrastructure makes its companies ideal partners for Greece’s green transition. However, Greece’s existing legal framework lacks specific provisions for electric vessels, which may need to be addressed to accelerate electrification.
There are also plans to modernize the ports, which include battery storage capacity, biofuel storage and bunkering, and route optimization solutions and systems to manage ports and streamline logistics.
Renewable Energy
Greece is becoming a regional energy hub, with investments in solar, wind, and LNG infrastructure. Commitment to carbon neutrality by 2050 is driving sectoral growth.
Offshore Wind
Greece has strong potential for offshore wind energy due to its long coastline, favorable wind conditions, and strategic location in the Mediterranean Sea.
The legal framework for offshore and floating wind came into effect in July 2022. This, in addition to significant support by the current Greek government, has sparked interest and development plans. Currently a national plan for the deployment of floating and offshore wind is in place and two pilot sites planned. The country aims to install at least 2 GW of offshore wind capacity by 2030, in line with the EU Green Deal.
This emerging sector offers valuable opportunities for Norwegian businesses, particularly in areas such as engineering, turbine manufacturing, installation, maintenance, grid connection, as well as shipbuilding and maritime services, including vessels and logistics tailored to offshore wind needs.
Norwegian expertise in these areas positions its companies as ideal partners in Greece’s renewable energy transition.
Circular economy
The circular economy sector in Greece is gaining momentum, driven by EU funding, national strategies, and growing interest from both public and private stakeholders. Greece’s national priorities on circular economy aim towards increasing recycling rates, decreasing municipal waste generation and landfill dependency.
Norwegian companies are well-positioned to support Greece’s transition to a circular economy by offering advanced technologies and solutions that enhance waste management efficiency, promote resource optimization, and improve recycling performance. Their expertise in smart sorting systems, high-efficiency recycling equipment, and deposit refund schemes for beverage containers can play a pivotal role in upgrading Greece’s recycling infrastructure and driving sustainable change.
Aquaculture
Greece is the largest producer of sea bream and sea bass in the EU. The sector currently does not apply innovative technologies for the digitalization and automation of processes (e.g. feeding) and monitoring of the production so there is significant potential for growth and efficiency. As a pioneer in sustainable aquaculture practices, Norwegian businesses can offer sustainable feed solutions, AI-driven systems for optimizing fish welfare and reducing waste, as well as digital tools for monitoring, feeding, and disease control.
Entrepreneurs/Startups
The tech startup sector in Greece has undergone a remarkable transformation in recent years, positioning the country as a rising innovation hub in Southeastern Europe. The top sectors driving innovation are fintech, AI & health tech, maritime tech, green energy and sustainability, and AgriTech. Over 700 startups are currently operating, with Athens ranked among the top emerging ecosystems globally.
