U.S.-Greece MoU to Expand Investment in Renewable Energy,
Conservation
A Memorandum of Understanding (MoU) signed on May 23, 2008, between Greece and the U.S. represents a "significant investment in renewable energy and conservation" in the member states of the Energy Community of Southeast Europe, according to a press release issued by the U.S. Embassy in Athens. USAID Deputy Assistant Administrator for Europe and Eurasia Thomas Fleetwood Mefford signed the MoU for the United States and Foreign Ministry Secretary General for International Economic Affairs and Development Cooperation Theodoros Skylakakis signed for Greece.
"This partnership represents sustainable development at its best," said Mefford. "Cooperation will promote stability and economic growth in the Balkans and create an innovative model for implementation in other regions. The E&E Bureau's outstanding Energy and Infrastructure Team are to be congratulated for successfully negotiating the scope and design of this innovative renewable energy collaboration."
The collaboration aims to advance the development of renewable energy sources and the introduction of energy efficiency measures in residential and public buildings. Programs will focus on strategic investment analysis and policy development, institutional and regulatory development to create the climate for business investment and private-public partnerships, and enhanced mechanisms for commercial financing of wind, biomass, solar and energy efficiency projects. The International Resources Group and Center for Renewable Energy will implement the project for the U.S. and Greece, respectively, which will extend to the member states and selected observers of the Energy Community: Albania, Bosnia-Herzegovina, Former Yugoslav Republic of Macedonia, Georgia, Croatia, Montenegro, Moldova, Ukraine, and Serbia.
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