A competitive procedure to offer 200 million euros in subsidies for energy storage projects is planned to take place in the first quarter of 2022, energy minister Kostas Skrekas has told the 6th Delphi Economic Forum, making clear the ministry’s determination to utilize as swiftly as possible funds being made available for energy storage through the national recovery plan, dubbed Greece 2.0.
In the lead-up, the energy ministry intends to invite investors interested in participating in the procedure to submit investment plans in autumn.
The procedure will be based on a related framework, describing the conditions and terms, to require the European Commission’s approval.
The subsidy program will financially support energy storage installations to offer capacity totaling hundreds of MW, the minister told the forum.
The Greece 2.0 national recovery plan, to carry funds expected to be worth a total of 450 million euros, will also be used to support the development of pumped storage stations.
Investors have expressed tremendous interest in the development of energy storage units. RAE, the Regulatory Authority for Energy, has received a large number of production license applications for various RES technology units.
Since 2019, RAE has received a total of 98 applications for energy storage units, pumped storage facilities and hybrid stations, representing a total of 8,213 MW, which, along with a prospective pumped storage station set for development by Terna Energy in Amfilohia, northwestern Greece, will reach 8,893 MW.
To date, RAE has granted licenses for the majority of these applications, while 34, representing 4,519 MW, still need to be processed.