Law 5215/2025: A Bold Reset for Landmark Investments in Renewable Energy, Innovation & Competitiveness
(Article drafted by Mara Vasileiou & Eva Kotzairaki, Associates for Lexology on July 24, 2025)
Greece has introduced Law 5215/2025, amending Law 4684/2021, to enhance the national framework for “Landmark Investments of Outstanding Significance.” The new legal framework is designed to attract large-scale strategic projects that contribute meaningfully to sustainable development, green and digital transition, technological innovation, and the competitiveness of the Greek economy.
Expanded Scope for Landmark Investments
The law broadens the definition of eligible investments, placing emphasis on:
- Renewable energy infrastructure, especially those combining power generation with renewable hydrogen production.
- Offshore wind farms, floating photovoltaic parks, and the circular economy.
- Strategic sectors such as critical raw materials, shipbuilding, and low-carbon technologies.
A key update is the shift from the term “green” to “renewable” hydrogen, reinforcing the legislative focus on renewable energy sources and expanding the scope for state aid.
Enhanced Incentive Mechanisms
Landmark investments may now benefit from a wide range of incentives under Articles 7–10 of Law 4864/2021, including:
- Spatial planning incentive (automatically granted for site preparation and related studies).
- Fast-track licensing procedures.
- Tax incentives, including:
- Fixed corporate tax rate for 12 years.
- Tax-exempt reserves (taxed only upon distribution).
- Accelerated depreciation of up to 100% (with a cap at 40% depreciation rate).
- State aid covering up to 100% of R&D and employment-related expenses.
Flexible Timelines and Implementation Framework
Recognizing the long-term and complex nature of such investments, the law replaces the fixed December 31, 2025 deadline with project-specific timelines aligned with the funding instruments involved (e.g., RRF, NSRF 2021–2027). Investors must declare the intended completion date in their application, and failure to meet this deadline results in the revocation of incentives.
Inclusion of new projects under this framework is allowed until funding resources (from EU and national programs) are exhausted, provided budgetary constraints under the Public Investment Program and the Medium-Term Fiscal Strategy are respected.
Additional Support for Key Regions and Crisis Recovery
- In De-lignification Zones (DEZs), investments can receive up to 100% of the aid intensity permitted by EU Regulation 651/2014.
- Projects falling under the Temporary Crisis and Transition Framework (TCTF)—adopted following the Ukraine crisis—may also receive full state aid, regardless of location, subject to EU state aid rules.
Conclusion
Law 5215/2025 represents a significant legislative step toward making Greece a destination for high-impact, future-facing investments. By clarifying priority sectors, expanding the eligible investment scope, and offering robust financial and regulatory incentives, the law creates a compelling framework for strategic investors committed to sustainability, innovation, and long-term economic growth.
Read the full article here: Law 5215/2025: A Bold Reset for Landmark Investments in Renewable Energy, Innovation & Competitiveness – Lexology
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