Plan backing local production of RES equipment imminent

The energy ministry is preparing to launch the country’s first ever subsidy program supporting industrial production of renewable energy equipment, an initiative dubbed Produc-E Green and planned to offer manufacturers a sum of 200 million euros, through the Recovery and Resilience Facility (RRF).

The ministry intends to announce the support program’s guide, detailing conditions and terms, by the end of April.

The support program’s online platform for applications is now being developed and is expected to be launched soon after the guide has been announced.

Energy minister Kostas Skrekas made reference to the Produc-E Green program at the recent Power & Gas Forum in Athens, noting it represents the country’s first ever initiative to establish a domestic sector for production of RES equipment.

Greece, as a result, will no longer need to import all RES equipment that is necessary for the country’s energy transition, including batteries, storage systems, production and assembly of solar panels, as well as equipment for hydrogen and electromobility, the minister told the event.

Fast-track licensing, a lower  tax rate, labor-cost support during the development and launch period of production plants are among the incentives planned to be offered to investors.

Over ten production facilities around the country are expected to benefit from the Produc-E Green support program, including in the west Macedonia and Arkadia regions as part of the country’s decarbonization policy supporting post-lignite areas.