Investors approve standalone battery support plan

Investors are responding favorably to an energy ministry draft planned to offer investment and operational support, through three auctions, for standalone batteries representing a total capacity of 1,000 MW, following preliminary examinations of the plan, now undergoing consultation until May 2.

Consultation participants have noted the ministry’s investment support plan is headed in the right direction, commending its series of safeguards ensuring that support will be given to storage units which, through their operation, will provide maximum benefits to the system.

The plan’s safeguards are designed to ensure a geographical spread of standalone battery installations around the country, which, besides offering maximum benefits to the grid, will also help diffuse project ownership among numerous investors.

The safeguards also include provisions designed to achieve maximum possible competition in auctions, but also to monitor the implementation of projects selected for support.

The energy ministry plans to stage a first auction by the end of June, offering investment and operational support for standalone batteries representing a capacity of 400 MW, followed by a second session in the third quarter of the year to offer support for units totaling 300 MW.

These two sessions will be open to investors behind prospective projects throughout Greece, while the third auction, planned to take place in the fourth quarter and offer support for standalone batteries with a total capacity of 300 MW, will be open to investors installing such units in the country’s post-lignite areas, namely Kozani and Florina in the north and Megalopoli in the Peloponnese.