In addition, the two projects will boost renewable energy production by 8 percent compared to 2020 levels. The storage units in both projects will help decouple electricity dispatch from production, thereby mitigating the intermittent nature of solar power and enhancing the stability of the Greek electricity grid, it added.
This project aims to optimize electricity generation and grid stability. The EU Commission said the aid will be paid annually over 20 years. Both projects are expected to increase the annual net renewable energy in the Greek electricity mix by approximately 1.2 TWh.
According to a new report by industry association Solar Power Europe, Greece’s total installed capacity last year grew by 20% with 1.6 Gigawatt of installed capacity added.
Still, it looks modest if compared with the expected performance of the market in 2023, which should bring online around 1.6-1.7 GW of solar capacity.” Under Greece’s revised National Energy & Climate Plan (NECP) from last year, the government foresees 13.4 GW installed PV capacity by 2030.
Under Greece’s revised National Energy & Climate Plan (NECP) from last year, the government foresees 13.4 GW installed PV capacity by 2030. That is almost double the 7.7 GW target that was embodied in the previous NECP.
“The Greek solar photovoltaic (PV) market has gained tremendous momentum, which is expected to continue for the next few years,” the report notes. “In 2022, 1.4 GW of new PV projects were connected to the grid, bringing the cumulative capacity to 5.5 GW. This was the best performance ever for the Greek solar sector.
Greece notified the Commission of its plans to provide support to two projects for the generation and storage of renewable energy for a total budget of €1 billion. The Faethon Project entails …
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The European Commission has approved a €1 billion (US$1.1 billion) Greek state aid measure to support two solar-plus-storage projects. Consisting of two solar PV projects co …
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Athens, Greece, December 16th 2024 – Sungrow, the global leading PV inverter and energy storage system provider, is proud to announce the strategic partnership with KTISTOR Energy …
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The European Commission today (April 2) announced it had cleared the way for Greece to invest €1bn to support two landmark renewable …
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The European Commission has approved the provision of €1 billion in Greek state aid to support the construction of solar projects with a cumulative capacity of 813 MW, …
Greece notified the Commission of its plans to provide support to two projects for the …
ESS are designed to complement solar PV systems and provide reliable and sustainable power. FusionSolar''s ESS solutions are modular, scalable, and adaptable to different energy …
The European Commission has approved a €1 billion (US$1.1 billion) state aid measure for Greece to support two solar-plus-storage projects. Consisting of two solar PV projects co-located with storage, the first one is the …
The European Commission has recently approved €1 billion under EU State …