RES units past 20-year mark to be paid SMP levels for output

RES facilities operating for over 20 years will be compensated for output absorbed by the grid at System Marginal Prices, according to a ministerial decision signed by energy minister Giorgos Stathakis.

The SMP-level payment term will also apply for RES units past longer 27-year supply contracts offered as a result of tariff reductions they were subjected to through the new deal.

These units will need to hold new and valid licenses for the SMP-level payements.

According to sources, a legislative revision will soon be made specifying new licensing procedures for RES facilities past these 20 and 27 year periods.

The country’s first wind energy park, a 10-MW facility installed on Crete by the firm Rokas, was launched in May, 1998 on a 20-year supply contract. Its supply agreement is set to expire next month.