The energy ministry intends to make available an additional 100 million-euro sum in investment support for energy storage units, the aim being to further boost the first wave of such installations in Greece as a means of supporting even deeper RES penetration into the energy mix.

A sum of 200 million euros stemming from the Recovery and Resilience Facility (RRF) is already planned to be made available as support for energy storage unit installations representing a total capacity of approximately 700 MW.

The extra 100 million-euro sum, to most likely stem from an alternative funding source, is expected to pave the way for additional energy storage projects representing about 400 MW, which would take this technology’s portfolio to a capacity of over 1,000 MW.

The REPowerEU facility is being examined as a first funding source alternative for the 100 million-euro sum, sources informed. So, too, is the RES special account.

Greece is entitled to an additional 769 million euros from the European Commission’s  REPowerEU facility, based on how its sum will be distributed to EU member states.

Projects to be eligible for financing through the REPowerEU facility are expected to be finalized in the coming weeks.