EEA

RAAEY announces first RES auction for installations in EEA

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RΑΑΕΥ, the Regulatory Authority for Waste, Energy and Water, has announced a first RES auction offering operating support to new solar and wind energy projects planned for installation in Bulgaria and Italy.

The cross-border auction has been made possible by a new local law that facilitates auctions for project development in the European Economic Area, an international agreement enabling the extension of the EU’s single market to member states of the European Free Trade Association.

Qualifying projects will have to sell their RES output in Greece’s day-ahead market on a daily basis daily, through physical delivery, meaning they will need to have secured interconnection rights.

A maximum capacity of 200 MW will be offered through the inaugural auction, whose bidding process was triggered by its announcement in the government gazette, and completed on March 11, 2024.

RAAEY will complete its appraisal of bids by April 18 and publish a list of qualifying and disqualified project bids, before releasing a finalized list of successful bids on April 25. Unsuccessful bidders will be given the opportunity to appeal during the intermediate one-week period.

Contrary to terms concerning mixed RES auctions for projects to be installed in Greece, no minimum percentage of successful projects per technology will be required.

In order to participate, prospective projects will need to possess valid connection contracts and/or finalized connection offers.

At least three projects linked with as many investors will need to participate for the auction to go ahead, while participants will not be able to compete for over 35 percent of the total capacity on offer.

‘Virtual net metering law for businesses by Christmas’

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Legislative action to utilize technology enabling virtual net metering through solar energy installations for medium and high-voltage voltage consumers have been announced by energy minister Kostas Skrekas.

The minister said legislation for medium and high-voltage voltage virtual net metering would be ratified by Christmas to enable enterprises to use self-produced electricity generated by off-site PV systems.

The minister, who was speaking at the Professional Chamber of Athens (EEA), addressed the energy crisis and responded to related questions by members on government intervention and actions.

Skrekas told the chamber’s members that energy sufficiency has been secured through government measures but stressed energy waste will need to be restricted.

Recent data showed an electricity consumption reduction of 13 percent in early September and a 40 percent drop in demand for natural gas over the past three months, the minister noted.

EDEY studying Norwegian upstream diversification

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EDEY, the Greek Hydrocarbon Management Company, is exploring, with the expertise and support of Norwegian scientists, the prospect of incorporating carbon capture and storage (CCS) and offshore wind farms into its range of activities, taking Norway as an example.

The effort is being conducted with financial support from the European Economic Area (EEA) grants mechanism, established by Norway, Iceland and Liechtenstein with the aim, amongst other matters, of strengthening bilateral ties with 15 European countries, including Greece.

Norway, which has accumulated years of expertise through hydrocarbon extraction, has successfully combined its upstream sector with new energy fields such as CCS and offshore wind farms.

According to EDEY chief executive Aristofanis Stefatos, the objective is to make note of the most positive aspects of these Norwegian synergies to help Greece develop important projects needed for the energy transition, without excluding exploration of natural gas deposits in Greek seas should market conditions become appropriate.

The EDEY study with Norwegian experts, titled “Review of the Transformation of the Norwegian Oil and Gas Industry during the Energy Transition and its application in Greece”, began last April and has been included in the EEA Grants program covering 2014 to 2021.