- The European Commission has approved funding for a Greek clean energy scheme.
- The scheme aims to add 4.2GW of clean energy in the Mediterranean country.
The European Commission has approved a €2.27 billion Greek scheme for power generation from clean energy sources and high efficiency combined heat and power (CHP). The funds will enable Greece to meet its clean energy targets and the broader EU objective of achieving climate neutrality by 2050.
Under this new scheme, Greece plans to support the production of electricity from various clean energy sources, including onshore wind, solar PV, PV plus storage, biogas, biomass, landfill gas, hydroelectric power, concentrated solar power and geothermal power plants and also high efficiency combined heat and power. In addition, Greece also wants to finance projects located outside its borders.
The scheme would require about €2.27 billion, which is expected to enable the addition of 4.2GW of installed capacity. The scheme will run till 2025, with aid being provided for a maximum of 20 years. The scheme will build on the previous Greek support scheme for clean energy production and high-efficiency cogeneration (SA.44666) and the Greek auction scheme for renewable electricity (SA.48143).
The EU’s Executive Vice-President in charge of competition policy, Margrethe Vestager, had this to say about the scheme: “This Greek scheme will provide important support to a wide range of technologies generating electricity from renewable energy sources, in line with EU rules. It will support the objectives of the Green Deal, contributing to substantial reductions in greenhouse emissions.”