Renewable energy investments, without grid projects, to reach €9bn by 2030

The country’s renewable energy sector investments until 2030 will reach a total of 9 billion euros, not including new grid interconnection projects, according to a projection included in the new National Energy and Climate Plan.

The RES sector’s share of Greece’s energy mix is expected to reach 65.7 percent in 2030 from 32.6 percent at present, in terms of overall electricity production, primarily through new investments in wind and solar energy, the NECP notes.

Installed wind energy capacity is projected to reach 7 GW in 2030 from 3.6 GW at present. This category’s total is seen increasing to 4.2 GW by 2022, 5.2 GW by 2025, and 6 GW by 2027 before hitting the projected level of 7 GW in 2030.

Similarly, installed solar energy capacity is seen rising to 7.7 GW from 3 GW at present. The total solar capacity is expected to reach 3.9 GW by 2022, 5.3 GW by 2025, 6.3 GW by 2027 and 7.7 GW by 2030, according to the NECP.

The plan also includes an initial schedule concerning power utility PPC’s withdrawal of coal generators. However, this road map does not specify which units will cease operating.

Coal generators with capacities totaling 1,000 MW are forecast to be withdrawn by the end of 2022, meaning the current lignite capacity total of 3.9 GW will be reduced to 2.9 GW over the next two years.

It is anticipated that the bulk of lignite unit withdrawals will be made between 2023 and 2025, when a capacity of 2.2 GW is expected to go. This will further reduce the power utility’s coal generator capacity to 0.7 GW, according to the NECP. This remainder in lignite units will then be withdrawn by 2028, it added.

The overall capacity of gas-fueled power stations stands to increase to 7 GW by 2030 from 5.2 GW at present, the NECP added.