German energy storage company Accusol and French corporate group EDF, already firmly present in the Greek market, are among a number of investors, local and foreign, to be granted the country’s first hybrid production licenses by RAE, Greece’s Regulatory Authority for Energy, for island projects.

The authority is believed to be preparing to officially issue these licences, already approved by its board.

Accusol’s licences concern the installation of hybrid energy storage systems on nine Greek islands, including Patmos, Kasos, Anafi and Gavdos.

The German company, working closely with Siemens, is offered technical consultancy by the Karlsruhe Institute of Technology.

For the financing needs of its hybrid energy projects on Greek islands, Accusol has secured a 90 million-euro loan from Alpha Bank and Siemens with German government guarantees through the Heuler Hermes export credit agency.

Accusol has already launched, free of charge, a pilot BESS (Battery Energy Storage System) project on the island Karpathos for Greek power utility PPC, following an agreement late in 2016.

The company’s BESS system uses lithium-ion batteries to store renewable energy.

Development and Investment minister Adonis Georgiadis made indirect reference to Accusol at a Berlin investment forum yesterday, noting “licenses for solar energy production and storage, on Greek territory, have been granted”, without naming the company.