A new support framework concerning energy storage stations will be attached to a RES licensing simplification draft bill headed for imminent consultation, the objective being to have the bill ratified in parliament by the end of this month.

Authorities aim to have energy storage units offering a total capacity of 1,500 MW installed and functioning by 2030, 700 MW of these in the form of pumped storage stations, the other 800 MW as batteries.

The Greek market’s current conditions are challenging for the sustainability of energy storage stations. As a result, Greece is the first EU member state to have notified the European Commission’s Directorate-General for Competition of the need for an energy storage support framework.

Investment support worth 200 million euros is planned to be provided through the Recovery and Resilience Facility (RRF) to finance 700-MW in batteries.

Investors eligible for this RRF support will qualify through competitive procedures, the first of these scheduled to take place this coming summer.

Investment interest in energy storage is currently elevated. A total of 78 applications for energy storage stations representing a total capacity of 4,800 MW have been submitted to RAE, the Regulatory Authority for Energy.