The European Commission has approved Athens’ support system proposal for energy storage units, a decision enabling the energy ministry to start preparing the details of auctions concerning investments and operational support for these facilities.

Procedures will need to be carried out swiftly as the support system’s funding, through the Recovery and Resilience Facility, has tight deadlines.

According to a related European Commission decision, contracts for energy storage projects selected will need to be awarded by the end of 2023, while development of the energy storage facilities must be completed by the end of 2025.

On the other hand, some time will be needed to shape the details of the support system approved by Brussels and transform it into a fully competitive procedure, given the limited experience, internationally. Greece’s energy storage auctions will be among the first to be staged in Europe.

Also, the auction’s details will need to be shaped to suit the storage needs of Greece’s grid.

The first auction is expected to take place by the second quarter of next year, while efforts will be made to stage the session three months earlier. The second auction is planned for the third quarter of 2023.