Decarbonization fund €4bn boost for island energy transition

The energy transition plan concerning the Greek islands could receive as much as 4 billion euros in support from the decarbonization fund, authorities participating at an event staged by HAEE, the Hellenic Association for Energy Economics, have indicated.

The HAEE event, titled “Green Transition Cost and Island Decarbonization”, involved the participation of leading authorities, including the energy ministry’s secretary-general Alexandra Sdoukou.

A change in the energy production model of islands is fundamental for the decarbonization effort concerning the islands, Sdoukou pointed out.

The government is aiming to incorporate as many RES facilities as possible on islands, either in the form of hybrid projects with energy storage or as independent solar and wind energy units, wherever grid interconnections are available, Sdoukou told the event.

Kostas Andriosopoulos, professor at the Audencia Business School and CEO of Akuo Energy Greece, estimated that funds to be made available from the decarbonization fund for the island energy transition may reach 4 billion euros, beginning with 2 billion euros, based on current emission right prices.