Electricity

Greece to subsidize battery storage with EUR 200 million next year

Greece subsidize battery storage EUR 200 million

Photo: UniEnergy Technologies / https://creativecommons.org/licenses/by-sa/4.0/legalcode

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May 13, 2021

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Published:

May 13, 2021

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A tender for battery storage units will be held in Greece in the first quarter and the government earmarked EUR 200 million for subsidies.

The Ministry of Environment and Energy of Greece will issue a public call in the autumn for investors to submit plans for power storage technology in the form of battery systems, Minister Kostas Skrekas said at the Delphi Economic Forum, as quoted by EnergyPress. He added the plan is to launch a tender in the first quarter of next year for the allocation of subsidies.

The government is preparing EUR 200 million for battery storage, the minister revealed and pointed out that the process can start when the relevant legal framework is adopted in Greece and all conditions are determined. He said the support would be extended for units with a total capacity of several hundred megawatts.

Battery systems, pumped storage hydropower to be supported with EUR 450 million

The ministry intends to use the funds from the National Recovery and Resilience Plan Greece 2.0, according to Skrekas. The document describing more than 170 investments and reforms was sent to the European Commission last month.

The government vowed to financially help the installation of 1.4 GW in the sector

The government expects EUR 31.2 billion in grants and cheap loans from the EU’s Recovery and Resilience Facility (RRF), worth a total of EUR 750 billion. Another EUR 59.8 billion is seen coming from mobilized investment resources, of which half is predicted to be in grants.

Greece earmarked EUR 450 million for 1.4 GW in storage in the country’s power system with the aim to help the integration of new renewable energy capacity, alleviate network congestion, increase the flexibility of the electricity system and liquidity of the balancing market, enhance system adequacy, enable energy efficiency, and promote transparent electricity price formation, the document reveals. The sum includes pumped storage hydropower plants.

Power storage projects in pipeline have combined capacity of 8.9 GW

The Regulatory Authority for Energy of Greece received 98 applications since 2019 for battery and pumped storage and projects combined with other technologies. The overall planned capacity is 8.9 GW including Terna’s Amfilochia plant.

The panel issued production licenses for most of the projects and 34 remain with a total of 4.5 GW.

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