Greece unblocks billions for renewable projects

Greece unblocked renewable energy projects worth 2.1 billion euros US $2.7 billion as the cash-strapped country struggles to attract new investments to boost its ailing economy, the energy regulator said.

The Mediterranean country has offered subsidies to renewable energy firms, but red tape and skewed incentives have led to a huge applications backlog of 40,000 megawatts, rather than to the construction of new units.

Greece's Regulatory Authority for Energy RAE said it approved last week several green energy schemes across the country, with a total capacity of 840 megawatts, and pledged to speed up procedures for the licensing of other projects.

"RAE is doing everything possible and has already opened the way for their projects licensing," the regulator said in a statement.

Although Greece is one of the sunniest and windiest countries in Europe, wind and solar power accounted for just 4 percent of electricity output in 2009, compared with more than 60 percent generated from burning lignite, a polluting form of brown coal.

Greece has pledged to raise the renewables share to 40 percent by 2020.

Related News

ontario rate relief

Ontario Extends Off-Peak Electricity Rates to Provide Relief for Families, Small Businesses and Farms

TORONTO - The Ontario government is once again extending electricity rate relief for families, small businesses and farms to support those spending more time at home while the province maintains the Stay-at-Home Order in the majority of public health regions. The government will continue to hold electricity prices to the off-peak rate of 8.5 cents per kilowatt-hour until February 22, 2021. This lower rate is available 24 hours per day, seven days a week for Time-Of-Use and tiered customers.

"We know staying at home means using more electricity during the day when electricity prices are higher, that's why we are once…

READ MORE
douglas kee

Investor: Hydro One has too many unknowns to be a good investment

READ MORE

ns rate increase

Nova Scotia Premier calls on regulators to reject 14% electricity rate hike agreement

READ MORE

bolsonaro

Brazil government considers emergency Coronavirus loans for power sector

READ MORE

africa electricity future

Putting Africa on the path to universal electricity access

READ MORE