Greece added 793MW of solar projects in the first quarter of 2013, according to national electricity market operator (LAGIE). In March alone, 259MW of new solar capacity was installed.

Oil rose to near US$85 a barrel Monday in Asia after Greek election results suggested the country will stay in the euro common currency, reducing the risk of a major upheaval in financial markets and the world economy.

The pro-bailout New Democracy party came in first Sunday in Greece's national election and could gather enough support to form a pro-bailout coalition to keep the country in the eurozone.

Greece will use future revenue from the country's ?嚙瘡elios' solar energy project to cut debt by as much as 15 billion euros ($21 billion), euro-area leaders said.

Wracked by debt but blessed with abundant sunshine, Greece plans to develop some 20,000 hectares of solar power parks in a bid to export renewable energy to Germany, a report said on Saturday.

It was "probably inevitable" that highly indebted economies would be given a way to quit the single currency, said financier George Soros.

"...it is not China bailing out Spain but without doubt, the Chinese involvement was helpful," according to a banker.