The Greek government has presented a new bill to shake up the renewable energy market with mixed results for solar.

The Hellenic Association of Photovoltaic Companies (HELAPCO) welcomed the lifting of an effective ban on new PV installs that was initiated in August 2012 when approvals for new projects were halted. The group called the changes a “reboot” for the country's solar sector.

An annual feed-in tariff (FiT) quota of 250MW would be established under the new bill, which is expected to be passed at the end of March.

“The bill also imposes permanent retroactive cuts (average 30%) on existing FiTs for already operating PV plants and extends the duration of relevant contracts by five years. During this extra five-year period, the systems will be compensated with electricity market prices or alternatively with €80/MWh (US$111/MWh),” a statement by HELAPCO read.

“HELAPCO welcomes the lifting of the ban on new PV systems and foresees a more stable environment for PV investments after the introduction of the new measures,” it continued.

The plans will also see solar pay 35% of their 2013 turnover into a fund for the Greek electricity market operator LAGIE as it looks to close it deficit, which runs into hundreds of millions of euros.