Renewables

Greece wants to use EU recovery funds for green power infrastructure

Greece EU recovery funds green power infrastructure

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Published

August 17, 2020

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Published:

August 17, 2020

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The government in Athens is preparing the national plan for funds from the Next Generation EU investment package, which the European Commission launched as a response to the damage from COVID-19. The local media learned Greece may lean on manufacturing cables, pylons and other elements for green energy facilities together with power links and other infrastructure for offshore wind power plants.

The Ministry of the Environment and Energy will propose support for the production of components for renewable energy plants and for the infrastructure necessary for the construction of offshore wind power plants, Energypress reported. Greece is working on the plan for the use of European Union funds earmarked for the economy’s recovery from the impact of the coronavirus pandemic, and green power is one of the European Commission’s priorities.

From cables, pylons to more sophisticated parts

The ministry revealed the aspiration for the country to host manufacturing facilities for cables, pylons and other elements so that it can add value on the domestic level. Greece has been simplifying the licensing procedure for renewable power plants, resulting in records in installed capacity, so decision makers believe they can attract major foreign investors to give a boost to the local green economy, the report reveals.

The news outlet added there is optimism that, as the market develops, factories could start making more complex parts for renewables. A similar plan was scrapped a decade ago, as back then the country was building renewable energy plants at a very modest rate.

European Commission awaits proposals

Ministries have until August 24 to submit their suggestions for the Next Generation EU. The administration in Brussels has announced the EUR 750 million package alongside the regular seven-year budget to soften the blow of COVID-19 and transform the economy in line with the European Green Deal.

The Greek plan is scheduled to be presented to commissioners in October.

The Ministry of the Environment and Energy has a series of measures lined up to help energy transition and sustainable investments

The article says the Ministry of the Environment and Energy would also roll out the third package of subsidies for energy efficiency measures for households, another support package for buyers of electric cars and other incentives for sustainable investments and the development of electric grids.

The initiative for offshore wind farms was apparently launched based on the projects to connect Crete with the mainland with cables, so Greece would help the expansion of green power capacity with more submarine links and substations.

According to the report, the said development ambitions depend on the government’s determination to keep cutting red tape and pursuing reforms.

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