May 1, 2018 Read More →

Greece to Seek 2.6 GW of Solar, Wind Development

Bloomberg:

Greece is preparing to auction 2.6 gigawatts of solar and wind projects to attract investment and beef up the Mediterranean country’s clean-energy credentials.

“From now on renewable energy production and prices will be determined by competitive tender process,” said Energy Minister George Stathakis. The “move should encourage investments in renewable energy of 2.5 billion to 3 billion euros, especially in wind.”

The government published the final rules for its first competitive tenders, which outline the timeline and size of the projects that will awarded. The first tender will be held July 2 and will hand out permits to build 300 megawatts of wind power and 300 megawatts of solar photovoltaics. The shift to auctions from feed-in-tariffs follows a move most renewable markets have made.

Greece is known for its sunshine, a key driver of its tourism industry, but it also has good wind resources. Like all European Union members, it has a legally-binding clean energy target and is aiming for 18 percent of energy consumption to be from renewable by 2020.

The country will tender 300 megawatts apiece of wind and solar annually from 2018 to 2020 and will also hold two auctions for 400 megawatts that will pit the two technologies against one another, starting in 2019. Total capacity procured will be 2.6 gigawatts, about the equivalent of two nuclear reactors.

More: Greece Kicks Off $3.6 Billion Program for Solar, Wind Projects

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