New RES support plan headed for Parliament in June

The environment and energy ministry is on the final stretch of its effort to draft a new support framework for the renewable energy source (RES) sector. It hopes to deliver the plan within the month of April.

In the follow-up to public consultation procedures completed a fortnight ago, Mihalis Veriopoulos, the ministry’s secretary general, has held a series of meetings with all parties concerned, while a special committee formed for the matter is making progress.

Once the draft plan is finalized, it will be forwarded to the European Commission and, if all goes according to schedule, the plan is likely to be submitted to Greek Parliament for ratification in June. The plan’s details will serve as the ultimate tool for local RES-sector growth in the coming years.

As has been recently reported, a combination of feed-in premiums and tenders will form the basis of the country’s new support framework, based on EU directives.

A price ceiling will be set for feed-in-tariff premium levels before tenders are staged for installment of specific capacities. Participants at the tenders will be selected to proceed with respective investment plans depending on how much they are prepared to undercut the upper limit for their premiums.

The plan’s expected Internal Rate of Return (IRR) for projects ranges between 8 and 12 percent.

The plan’s price ceiling has been set at 98 euros per MWh for wind-energy facilities, 100 euros per MWh for small-scale hydropower facilities, and 90 euros per MWh for photovoltaic systems over 500 KW.

Fixed feed-in-tariffs will be maintained for photovoltaic systems below 500 KW. As for roof-mounted photovoltaic systems, fixed feed-in-tariffs will be maintained, at a level of 110 euros per MWh.