How will the Greek energy sector change in 2024?

In 2024, the Greek energy sector is expected to undergo significant transformation, driven by strategic initiatives such as the Alexandroupolis FSRU and third energy storage auction programme planned in the upcoming months.

How is Greece making progress on its energy transition?

Greece is making progress on its energy transition, including implementing reforms to standardise and simplify licensing procedures for renewable projects and investigating options for offshore wind.

How will Greece transform its energy sector in 2022?

In June 2022, Energy Minister Skrekas stated that 44 billion Euros would be dedicated to the structural transformation of Greece’s energy sector which would include increasing renewable energy capacity to 25 GW from the current 9 GW and tripling the volume for LNG storage. The phaseout of lignite plants was delayed until 2028.

How many GW of energy storage is planned in Greece?

Overall, the Greek government has planned 1 GW of energy storage in auction programs. As of now, 400 MW of new battery storage capacity have been awarded in the 1st energy storage tender, spread among 12 projects and 300 MW have been awarded in the 2nd energy storage tender, split among 11 projects.

Is Greece a potential energy hub for the Balkans?

Power produced by renewables and hydroelectric plants accounted for 57% of Greece’s energy mix, an 8.5% rise from 2022 according to the country’s Independent Power Transmission Operator IPTO. The Greek government is positioning Greece as an eventual energy hub for the Balkan region and Europe.

What are Greece's energy reforms?

Greece is currently implementing comprehensive energy sector reforms towards creating competitive energy markets. The reforms will reveal opportunities for investors and for the transformation of the energy system, thereby providing sustainable outcomes f