Greece

Opportunities through the EEA Grants

Over the past five years, our office has given Norwegian companies the opportunity to explore the Greek market through bilateral partnership projects and/or sector-focused bilateral events, mainly funded by the EEA Grants.

We can help you with

• Advisory on EEA funding opportunities
• Cultural understanding and a local presence
• Support in meetings where language skills and local knowledge are important
• Market insights
• Market visits (one-to-one or in groups)
• Guidance, networking and identification of potential business partners

Greek business culture is generally more formal than Norwegian business culture. Personal relationships, trust and access to local networks are therefore essential for success in the Greek market. Team Norway plays an important role in organising relevant meeting places to help Norwegian companies navigate the Greek market.

Market opportunities in Greece

National reforms have made Greece one of Europe's fastest-growing economies, with advances in technology and innovation, renewable energy, tourism and infrastructure.

Greece's strong focus on maritime industries, renewable energy, aquaculture and digital transformation makes it an attractive market for exports and partnerships for Norwegian companies looking to expand their operations in South-East Europe.

The maritime sector and opportunities in the green transition

Greece has the world's largest shipping fleet, with around 5,200 ocean-going vessels, mainly bulk carriers and tankers. The Greek government estimates that €2 billion will be needed by 2027–2028 to modernise the fleet and upgrade ports for cleaner shipping. EU funding has been secured to support this, but access to green finance remains a major challenge for shipowners.

Greece’s ambitious fleet renewal programme offers strategic opportunities for Norwegian maritime companies to provide innovative technologies, equipment, solutions and services. Norway’s strengths in electric and hybrid propulsion, green technology, maritime digitalisation and port infrastructure make Norwegian companies ideal partners in Greece’s green transition. However, the current Greek regulatory framework lacks specific provisions for electric vessels, which may need to be addressed to accelerate electrification.

There are also plans to modernise the ports, including battery storage capacity, biofuel storage and bunkering, route optimisation solutions, and systems for port management and more efficient logistics.

Renewable energy

Greece is emerging as a regional energy hub, with investments in solar power, wind power and LNG infrastructure. Its commitment to achieving carbon neutrality by 2050 is driving growth in the sector.

Offshore wind

Greece has significant potential for offshore wind due to its long coastline, favourable wind conditions and strategic location in the Mediterranean.

The legal framework for offshore and floating wind came into force in July 2022. Strong support from the current Greek government has also sparked interest and prompted development plans. Greece now has a national plan for developing floating and fixed-bottom offshore wind, with two pilot areas planned. The country aims to install at least 2 GW of offshore wind capacity by 2030, in line with the EU Green Deal.

This growing market offers valuable opportunities for Norwegian businesses, particularly in engineering services, turbine manufacturing, installation, maintenance, grid connection, shipbuilding and maritime services, including vessels and logistics tailored to the needs of the offshore wind industry.

Norwegian expertise in these areas makes Norwegian companies ideal partners in Greece’s transition to renewable energy.

Circular economy

The circular economy is attracting increasing attention in Greece, driven by EU funding, national strategies and growing interest from both public- and private-sector stakeholders. Greece’s national circular economy priorities aim to increase recycling rates, reduce municipal waste and cut reliance on landfill.

Norwegian companies are well positioned to support Greece’s transition to a circular economy by providing advanced technologies and solutions that make waste management more efficient, optimise resource use and improve recycling outcomes. Norwegian expertise in smart sorting systems, high-performance recycling equipment and deposit return schemes for drinks containers can play a key role in upgrading Greece’s recycling infrastructure and driving sustainable change.

Aquaculture

Greece is the EU's largest producer of sea bass and sea bream. The sector has yet to adopt innovative technologies to digitalise and automate processes such as feeding and to monitor production, creating significant opportunities for growth and greater efficiency. As pioneers in sustainable aquaculture, Norwegian companies can offer new feed solutions, AI-based systems that improve fish welfare and reduce waste, as well as digital tools for monitoring, feeding and disease control.

Entrepreneurs/Startups

The Greek startup landscape has undergone a remarkable transformation in recent years, positioning the country as a growing innovation hub in South-Eastern Europe. The key sectors driving innovation are fintech, AI and health technology, maritime technology, green energy and sustainability, and AgriTech. More than 700 startups are operating in Greece, and Athens ranks among the world's leading emerging ecosystems.