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U.S. Green Transition Aid Drawing Greek Companies Keen on Investing

While Greece is hoping to lure more foreign companies – especially American – Greek companies are showing interest in investing in the United States to take advantage of aid for environmental and other projects being offered.

The incentives are being provided through the US Inflation Reduction Act (IRA) that has attracted companies across Europe who want to cash in, with Greece’s Cenergy Holdings and cement manufacturer Titan among them.

Cenergy said that through its US subsidiary, Hellenic Cables Americas, it plans to build a $300 million advanced technology cable manufacturing facility in Baltimore, with a final investment decision yet to be made.

The Greek company’s request to have the investment included in the Qualifying Advanced Energy Project program with up to $58 million in tax exemptions has been approved by the US Internal Revenue Service.

The plant will manufacture submarine and underground cables for offshore wind energy and power grid upgrading applications but a final decision reportedly hasn’t been made and is awaiting Hellenic Cables’ plan to buy 38 acres of land at Wagner’s Point, Baltimore.

Titan, which has already developed production activities in the US, said its plant in Roanoke, Virginia was selected by the US Department of Energy for a grant of up to $61.7 million to develop innovative technology for a thermally activated clay production line. That aligns with the company’s green growth strategy for 2026 to increase a line of low-carbon cement products available to clients including hospitals, schools, bridges and other infrastructure projects too.

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