Remarks by Ambassador Eleni Tsakopoulos Kounalakis at the Pannonia Ethanol Groundbreaking

Dunaföldvár, Hungary, August 23, 2010

Good afternoon!  Thank you for inviting me to be with all of you today.  I am  pleased to join Mayor Nagy, State Secretary Zsolt V. Németh, and our friends from Fagen and Ethanol Europe, in breaking ground for the cleanest, most efficient ethanol plant in all of Europe.  I believe that with this project Hungary has put itself in a position to become the green energy leader in Central Europe, and has taken a big step forward towards the goal of energy diversification in Europe.

I am very proud of the US company behind this project.  Fagen Inc. is the largest builder of ethanol plants in the United States.  In fact, over 60 percent of all ethanol plants in the U.S. were built by Fagen.  They use the most current technology available, building plants that are always on the cutting edge in terms of efficiency, reliability and safety. 

Since my arrival in January, I have been engaged, and watching with great interest, the progress of this project.  And of course, our commercial counselor, Rob Peaslee, has worked tirelessly.

This is a very important project for both of our countries as you will hear today.  But it is also one of many ribbon cuttings and ground breakings that I have participated in since arriving in this beautiful country. 

In spite of the global economic slowdown, Hungary remains a great place to invest.  It has excellent infrastructure, an educated, talented and reliable workforce; and a central location within Europe and Eurasia. And all of this is available for a price that is very competitive.

In the case of the Pannonia Ethanol project, the availability of high quality corn was also an important factor in locating here.  Hungary will benefit from having this large buyer for its corn market.  The Hungarian government recognized the economic and, of course, the environmental benefits of having this project, and gave it Special State Supported Project status, allowing it to cut through red tape and bureaucracy.

I want to thank the national government for keeping this project on-track through the change in administration.  I also want to say how encouraged I am to hear the government’s pledges to increase transparency.  This will be another key competitive advantage for Hungary, and will help it move forward in growing its economy.

I would also like to acknowledge the commitment of the local government, headed by Mayor Nagy, in shepherding the project to where we are today.  I have to stop here and say “thank you Mayor Nagy!  There are many people here today who played an instrumental role in this project coming together but no single person had a bigger positive impact than you, and I am grateful for your support.”

I would like to share with you President Obama’s vision for a new energy future for the United States.  He believes that by embracing alternative and renewable energy we can end our addiction to foreign oil, address the global climate crisis, and create millions of new jobs.

To achieve our goal of generating 25 percent of our energy from renewable sources by 2025, the United States is already making unprecedented investments.  These include $59 billion in economic stimulus funds and $150 billion from the federal budget, in clean, renewable energy – solar, wind, geothermal power – and biofuels. 

As President Obama said in June: "Each of us has a part to play in a new future that will benefit all of us…..The transition to clean energy has the potential to grow our economy and create millions of jobs -- but only if we accelerate that transition. Only if we seize the moment. And only if we rally together and act as one nation -- workers and entrepreneurs; scientists and citizens; the public and private sectors."

What you see here today is a manifestation of that vision of the public and private sector working together to make a better, safer, cleaner world for our children and grandchildren.

I look forward to joining many of you back here in around 18 months for the commissioning of this plant.  Thank you again for inviting me to be here to participate in this groundbreaking ceremony!