The Greek prime minister is banking on sun and wind to stimulate his country's hobbled economy.

Returning to an election pledge, George Papandreou is eyeing an Aegean island as the site of renewable energy sources, predicting his efforts will create more than 200,000 jobs and attract 44 billion Euros in investment by 2015.

"Green and clean energy is a different growth model," Papandreou said during an Oct. 5 speech in Brussels. "I believe that if we invest there, we will boost our economies."

Once the home of exiled political prisoners, the remote island of Ai Stratis is eight hours from Athens and has a population of about 250.

"New technologies associated with green development constitute a unique chance," said Nikitas Nikitakos, a University of the Aegean professor commissioned to assess the island as a site for renewable energy. "Whatever can be built in Greece with a local added-value, contributes to overcoming the crisis."

The Greek economy received a $153 billion bailout from the European Union and the International Monetary Fund earlier this year.