Renewables

Terna: EUR 11 billion in green energy projects to boost Greece’s recovery

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Published

May 7, 2020

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Published:

May 7, 2020

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The Greek economy may get an enormous push with EUR 11 billion investments in renewable energy and electricity storage projects in the post-coronavirus era.

According to Terna Energy’s Chairman Giorgos Peristeris, fully licensed investments in renewables with a total capacity of 2,400 MW are ready, while an additional 5,800 MW of renewable energy projects obtained all environmental permits.

About 8,200 MW of renewable energy projects, worth EUR 8.5 billion to EUR 9 billion, can immediately proceed to implementation within the next three years

Terna Energy’s Chairman Giorgos Peristeris

It means a total of about 8,200 MW of renewable energy projects, worth EUR 8.5 billion to EUR 9 billion, can be implemented immediately or within a three year period, Peristeris said in a message to shareholders of the company.

Also, EUR 1.5 to EUR 2 billion in electricity storage projects (hydropower and hybrids) with a capacity of 1,000 MW are in the mature phase of preparatory activities.

Green energy projects have a high added-value rate – up to 75%

They can be implemented when an institutional framework is adopted, Peristeris said.

He claimed green energy projects have a high domestic added-value rate: wind energy comes in at 50%, compared to 70% for hydropower and 75% for pumped storage.

Peristeris said Terna Energy has recently increased its investments in the renewable energy market in Greece by EUR 550 million and that it led to a total of EUR 1.5 billion in planned investments in clean energy.

The total capacity of renewables facilities operated, constructed, or fully licensed by Terna Energy is 1,938 MW.

PPC offers the lowest ever price for photovoltaics

At the beginning of April, regulators in Greece accepted the offer by an affiliate of PPC Renewables to sell electricity from a planned 200 MW solar power plant. The price achieved at the auction is the lowest ever in the country for photovoltaics.

PPC is also discussing strategic partnerships in green energy with Motor Oil (Hellas) Corinth Refineries SA and Helector SA.

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