Athens, 04 October 2024 – Andreas Athanasopoulos, CEO of Olympia Group, spoke about the role of business in accelerating the energy transition, as a guest at the Berlin Global Dialogue conference. He stressed that the business community plays a key role in the energy transition through innovation, investment and strategic changes aimed to create, store and deliver energy where it is needed. Currently, there are significant barriers to the development and commercialization of innovations due to fragmented markets, excessive regulations and insufficient funding. As he pointed out: «In the coming years, Europe is called upon to regain the lost ground by taking decisions such as on forms of cooperation with China on energy storage infrastructure, or whether to invest in its own supply chain, especially when it comes to the production of cell components for batteries. A balanced solution may be the cooperation, rather than the use of protectionist policies that could increase the cost and availability of similar products and effectively delay the energy transition. Europe should focus on where it can add value, rather than seeking complete independence from global supply chains, which is currently considered unfeasible».

Mr. Athanasopoulos also referred to the significant challenges in innovation and production of energy storage technologies that Europe has to face, as Japan, China and Korea are already investing in next generation batteries with a 2030 horizon, while Europe is lagging behind. As he noted: «Private capital should focus on areas of added value, as is the development of storage solutions and cutting-edge technologies such as data and artificial intelligence. In addition, subsidies and support for research and development are critical to achieve progress. Europe needs to close the innovation gap with the US and China where the differences are huge. It should target smart interventions such as tax breaks, for photovoltaic energy storage, heat pumps and business energy storage, while introducing long-term commitments such as guaranteed generation absorption which will attract private investment».

Concluding his presentation, Mr. Athanasopoulos said: «You cannot expect a bountiful harvest if you keep changing crops, delaying planting or leaving fields uncultivated because subsidies have run out. The energy transition is no different: it requires constant cultivation of innovation, stable investments and policies that offer long-term certainty. The energy transition is not just a technical or economic challenge – it is a matter of strategic focus. We need to shift from short-term cycles to a vision that aligns our technological ambitions with practical support. By nurturing innovation, reducing investment risks and stabilizing demand, we can ensure that Europe not only participates in the global energy transition, but thrives in it».

The Berlin Global Dialogue is an annual, high-level meeting of leading global leaders from politics, business and civil society, held in Berlin. It aims to exchange ideas and promote dialogue on major global issues such as the climate crisis, geopolitics, economy and technology. The forum brings together personalities from around the world, seeking to find sustainable solutions to critical problems. The importance of the Berlin Global Dialogue lies in its potential for international cooperation and policy-making, particularly in areas such as energy transition and innovation. Through this platform, agreements can be reached that affect the global scene and strategies can be formulated that influence the future of sustainable development and international stability.