The new Greek energy and climate national plan, which is under development, will upgrade the goal for energy storage installations from the previous 1.5 GW to 3 GW.
According to recent statements from Kostas Skrekas, the energy and environment minister, the previous goal for 1.5 GW of storage will now be realized by 2025. Another 1.5 GW will be installed after 2025 to bring the total to 3 GW by 2030.
When it comes to renewables, the 2030 goal is expected to be set at 25 GW from 18.9 GW under the previous plan. This means that more storage installations will be needed to balance the system and ensure its proper function.
Already, many applications for gigawatts of new renewable projects with storage have been submitted to the regulator, which means that there is sufficient investing interest in the sector to cover rising needs.
At the same time, the first wave of storage investments is expected to benefit from EUR 450 million of funding through the National Recovery and Resilience Fund 2.0. The first tender for these projects is now expected to take place in September 2022.
Renewable production curtailed for the first time
Specifically, that day there was a new record for the share of renewable energy in the power production mix with 68%, according to the transmission operator IPTO’s chairman and CEO Manos Manousakis.
At the same time, three conventional plants had to be accommodated to cover demand after the sunset, therefore the decision was taken to reduce renewable production.
Storage to prevent renewable energy curtailment
Apart from Greece, this phenomenon appeared in Spain as well, where on Sunday, April 17, production from photovoltaics was curtailed for the first time. During the noon of that day, production was reduced from 10,710 MW to 9,689 MW, in accordance with the operator’s guidelines.
This lost green energy highlights the need for robust energy storage systems that will remove the need for curtailment, since they will be able to store the extra energy and give it back to the grid at a later time, when needed.
It should be noted that the new regulatory framework for energy storage in Greece has been delayed and is expected within the next few months to provide visibility and clarity to potential investors.