An energy ministry plan for a competitive procedure to offer investment support for energy storage facilities with capacity between 800 and 900 MW has been approved by the European Commission, the ministry’s secretary-general Alexandra Sdoukou noted during a speech yesterday on the opening day of the two-day Power & Gas Forum, staged by energypress.
The energy ministry is working towards staging a first competitive procedure for this investment support in September, to offer between 400 and 450 MW, or half the planned total capacity, according to sources.
Talks with the European Commission on the matter ended successfully earlier this week, Sdoukou told the forum, adding that an official announcement will be released within the next few days.
Interested investors will be invited to lodge applications confirming their participation in the competitive procedure for investment support in the lead up.
A sum of 200 million euros in support funds is expected to be offered through Greece’s recovery and resilience plan, expected to cover approximately 40 percent of the energy storage unit costs.
Investment interest is high for energy storage development. RAE, the Regulatory Authority for Energy, issued licenses for 120 units representing a total capacity of 9,641 MW until the end of January.