Construction Recommendations new power generation units Applications for renewable energy sources—equivalent to three times the capacity of the country’s existing installations—were submitted to the Energy Regulatory Authority as part of the latest round application submission for the issuance of producer certificates.
A few hours before the deadline (the round closed at midnight yesterday), the following had been submitted 1,200 applications for power plants with a total capacity of 24 gigawatts. By comparison, the total capacity of renewable energy plants operating in the country amounts to 7.5 gigawatts. Although the issuance of a producer certificate does not necessarily lead to the implementation of the investment, the volume of applications is an indication of high interest.
The lion's share in the latest application cycle Photovoltaic projects account for the largest share (over 850 applications for 16.8 gigawatts), followed by wind projects with 250 applications for 6.9 gigawatts. The remaining capacity is distributed among small hydroelectric plants, biomass plants, hybrid plants (combination of technologies), and combined heat and power plants.
Investor interest The situation that has unfolded refutes the assessments according to which the measures taken to cover the deficit in the renewable energy financing account (including the imposition of a special levy on older renewable energy plants) would harm the Greek market and investor confidence.
As he characteristically stated the Minister of Environment and Energy Kostis Hatzidakis: «Reality is taking its toll on those who were quick to criticize our renewable energy policy,» while also citing the approval by the Interministerial Committee on Strategic Investments (DESE) of four major renewable energy projects with a total budget of 2 billion euros, he emphasized that these projects represent the government’s best response to the investment climate.
«Recently, there have been objections, both inside and outside Parliament, to the financial and structural measures taken by the Ministry of Environment and Energy in this sector, particularly in projects of strategic importance. They themselves provide the answer today investors »which—even after these interventions—continue to be of the utmost interest to investors," the minister concluded.
