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Investing in the production of the sustainable energy in Greece is a very secured option as it has extremely favorable wind (> 7m/s) and solar energy conditions (>1,600 kWh/kWp/year).The current installed PV capacity is 3.0GW, covering 7% of the electricity demand in the country and is expected to reach 7.0GW by 2030.
- The exploitation of renewable energy sources has significantly increased in the recent years, mainly due to a rapid growth in wind and solar, which has been driven by the government’s actions to increase the share of renewables in the mix.
- As of June 2019, Greece ranked 9th among the top ten countries for renewable electricity production worldwide.
- Greece is planning by 2030 add a minimum of 3.4GW of solar and 4.7GW of wind capacity in the country’s generation mix.
- From 2020, the wholesale market in Greece is experiencing a shift from the Mandatory Pool Model to the Target Model, in accordance with EU Directives.
- A Corporate PPAs market will also become effective, opening new opportunities to investors.
- The Hellenic Energy Exchange (HEnEx) will initiate operations from the second half of 2020. The aim is to increase competition by providing access to new energy markets and introducing new products on the domestic market (day ahead market, intraday market, balancing market and energy derivatives market).
Greece’s average marginal system prices have been above 60 EUR/MWh in the past years.
Projects following the normal Licensing process can participate in public tenders (x3 per year) to secure a 20-year subsidy (feed-in premium) by signing a PPA with the Government or go Merchant.
Projects following the “fast track” licensing process can secure a 20-year subsidy (feed-in premium) negotiated bilaterally with the Government or go Merchant.