Renewables

EBRD funds renewables in Greece with EUR 300 million

Photo: Pixabay

Published

February 7, 2017

Country

Comments

comments icon

0

Share

Published:

February 7, 2017

Country:

Comments:

comments icon

0

Share

The European Bank for Reconstruction and Development  (EBRD) announced the establishment of an investment framework worth EUR 300 million to finance renewable energy projects in Greece.

The Greek Renewable Energy Framework (GREF) will also finance electricity grid modernization and expansion investments that enable renewables integration in the Greek system.

GREF responds to the country’s target to add 2.4 GW of new renewable energy capacity by 2020 and the recent adoption of a new more market-based renewable energy support scheme, which includes a transition to an auction-based price-setting mechanism.

GREF will contribute to Greece meeting its renewable energy targets and achieving carbon emission reductions directly through financing projects in renewable electricity generation (especially through the new auction scheme), as well as indirectly, by supporting the grid infrastructure that enables improved penetration of renewable plants into the Greek system, according to EBRD.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Turkey 20 GW PV capacity wind power 13 GW

Turkey tops 20 GW in PV capacity, wind power surpasses 13 GW

18 February 2025 - Turkey exceeded 20 GW in PV capacity last week, reaching 20.4 GW, while wind power grew to more than 13 GW

bih concession solar ljubinje trebinje cicevo bancici srpska

Republic of Srpska grants two concessions for solar power plants

18 February 2025 - The deadline to sign concession contracts for the two power plants is 60 days and it expires in early April

Race against time for Greece to avoid a blackout on Easter

Race against time for Greece to avoid a blackout on Easter

18 February 2025 - Greek authorities are rushing to secure the electricity system against a possible blackout during Easter

IEA Renewables cover almost all electricity demand growth 2027

IEA: Renewables to cover almost all electricity demand growth through 2027

17 February 2025 - A sharp increase in global electricity demand is expected in the next three years, IEA said and estimated that renewables would cover 95%