Greek solar and hydrogen technology developer, Lion Energy, www.lionhellas.com aims to close a funding round of EUR 70.0m (USD 89.5m) by the end of 2007.
KPMG www.kpmg.com has been appointed to arrange the placement, and the company is also seeking additional investors for 100-share blocks at EUR 0.30 (USD 0.39) per share. Greek law firm, Kelemenis & Co www.kelemenis.com , is acting as legal advisors to the placement.

Lion Energy has an array of technologies which it intends to commercialise as pilot plants. These include a solar electricity generating system using low-cost polymer collectors and an electrolyte-based heat to electricity generation system, a catalyst to facilitate hydrogen production from water, a solar thermal desalination technology and the manufacture of a low-cost construction material from waste plastic.

Kostas Liapis, President and Managing Director of Lion Energy, said “I intend to take the company public on the NASDAQ or Frankfurt Stock Exchange. It’s a good time - Greece brought in a new feed-in tariff of EUR 0.46 per kwh (USD 0.59) on 6 June 2006, for all renewables, and 45% Grand from EU”.

The Greek ambition is to have at least 700 MWp installed by 2020. With currently a total installed power of 6 MWp, the market will have to grow by more than 40% a year to achieve this goal. The new legislation, combined with interesting investment incentives, provides financially attractive opportunities for PV in Greece. The return of investment can even be better than in Spain.

Yes, I know one wind player better than the two your cited above: GAMESA (Spain)

Regards