News

New model combining feed-in premiums and auctions

Published

September 9, 2015

Comments

0

Share

Published:

September 9, 2015

Comments:

0

Share

Greece’s support system for renewable energy sources is being prepared, based on the bailout agreement, it is expected by the end of the year and must be implemented in 2016, a few months beyond previous dates set, portal Energy Press said.

The plan will detail the methods and levels of payments, according to the report. The new model, to replace a current framework based on feed-in tariffs, is currently being worked on by officials at the Production Reconstruction, Environment and Energy Ministry, the Regulatory Authority for Energy, and German consulting firm GIZ. Work is based on guidelines provided by the European Commission in June 2014 for the European Union’s environmental and energy sectors, while also taking into account the overall experience of various systems in Europe. The challenge is to ensure favourable payments for new renewable energy projects that may generate investor interest, offer sector sustainability and environmental protection, as well as create jobs, the article said. The country’s photovoltaic sector, for example, is currently in the doldrums.

The plan is headed towards a combination of feed-in premiums and auctions for green energy supply, which is in line with EU guidelines, unspecified sources said. They specify that feed-in tariffs are permitted for projects with capacities of up to 500 kW. As of January 1, 2016, feed-in premiums will be permitted for projects between 500 kW and 1 MW. As of January 1, 2017, projects with capacities of over 1 MW will be rewarded through an auction process. In the lead-up, during 2015 and 2016, at least 5% of new RES capacity will need to be compensated through an auction process.

 

Related Articles

Monsson-merge-wind-farm-PV-unit-Romania-hybrid-power-plant-storage

Monsson to merge its wind farm, PV unit in Romania into hybrid power plant with storage

20 February 2024 - Monsson Group is developing a hybrid wind-solar-storage project with the largest battery energy storage system in Romania

kozloduy hyndai nuclear unit

Hyundai shortlisted for installing new nuclear units in Kozloduy

20 February 2024 - Bulgaria has called on potential contractors to express interest in the construction of a new nuclear power plant with AP1000 technology

GGF UniCredit Bank Serbia EUR 50 million renewables loan

GGF deepens cooperation with UniCredit Bank Serbia with EUR 50 million renewables loan

20 February 2024 - UniCredit Bank Serbia obtained a EUR 50 million loan from GGF for utility-scale renewables projects, strengthening its ties with the fund

EU approves EUR 6 9 billion state aid for hydrogen infrastructure

EU approves EUR 6.9 billion in state aid for hydrogen infrastructure

19 February 2024 - Strategic hydrogen project IPCEI Hy2Infra, which seven EU member states developed jointly, got a green light from the European Commission