Will Greece have a pumped Energy Storage regulatory framework?

Investors may be wary ahead of publication of an energy storage regulatory framework in Greece this summer. With a total installed capacity of 680 MW (production) and 730 MW (pumping), Athens-headquartered Terna Energy says the Amphilochia pumped storage project will be Greece’s largest grid connected energy storage investment.

Does Terna have a pumped-hydro plant?

As such, said Terna in its press release, the project has obtained “definite approval of environmental terms.” The pumped-hydro plant was also granted strategically significant investment status by the Greek government in 2014, ensuring priority status in processes carried out by public bodies and concerning other red tape.

What will Terna's Amphilochia project entail?

With Amphilochia its flagship project, Terna claims plans for smaller facilities at Amari, on Crete; at Veria; and in the Peloponnese, ensure it holds 1.5 GW of licensed pumped storage capacity in Greece.

Will Sardinia become a beacon for energy?

Linking Sardinia to the TL will enable a two-way exchange, particularly if Sardinia really does turn out to be a leader in the battery storage system, given the possibility of ensuring around 800 MW of electrochemical storage on the island alone in the upcoming auctions. Rising from the ashes to become a new beacon for energy? Why not.

Will a large scale energy storage facility boost Greece's independence?

If built, the large scale facility can boost Greece’s independence from fossil fuels and the government’s strategy for a coal-free electricity system by 2025. Investors may be wary ahead of publication of an energy storage regulatory framework in Greece this summer.

How much will Athens spend on energy storage?

pv magazine has determined Athens will devote €450 million of the €30.5 billion it expects to secure from the EU's post-Covid recovery and resilience facility, to energy storage. Of that €450 million, around €200 million will be channeled into battery facilities, via the planned 700 MW tender.