Greece has approved a budget of 2 billion euros for the development of the four renewable energy projects. The four renewable projects will have a cumulative capacity of 2.81 GW.
Egnatia Group will be responsible for the largest part of this development. It will develop 1.5 GW of solar parks across 12 regional units in Central and Northern Greece, with Euro 888.13 million investment by the Interministerial Strategic Investment Committee. The investment committee also approved an investment of Euro 421.60 million for Karatzi SA to build and operate 37 solar projects. These projects are set to total up to a capacity of 830 MW which will be developes across Larrisa, Magnesia and Kilkis.
About Euro 585 million will be invested by the Greece-based renewable power producer Terna Energy into setting up of 18 wind farms. These projects having a combined capacity of 360 MW, will be located in the coastal town of Karystos, on the island of Evia. Further, five other wind parks totalling 120.3 MW will be installed in the Thrace region, at a total cost of Euro 121.3 million. These will be developed by Kamaridis GlobalWire and will be located in Xanthi and Rodopi.
The national energy plan of Greece has mandated the installation of 7.7 GW of cumulative solar PV capacity by 2030. The plan calls for increasing the total installed PV capacity to 3.9 GW in 2022, 5.3 GW in 2025, and 6.3 GW in 2027. According to the plan, the country will have 7 GW of cumulative wind power capacity by 2030, in addition to 3.7 GW of hydropower, 300 MW of biomass and biogas, and 100 MW of geothermal capacity.