Greece unblocks billions for renewable projects

subscribe

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

canada-electricity-exports-at-risk-amid-growing-us-canada-trade-tensions

Canada's Electricity Exports at Risk Amid Growing U.S.-Canada Trade Tensions

OTTAWA - In early February 2025, escalating trade tensions between the United States and Canada have raised concerns about the future of electricity exports from Canada to the U.S. The potential imposition of tariffs by the U.S. has prompted Canadian officials to consider retaliatory measures, including restricting electricity exports.

Background of the Trade Dispute

In late November 2024, President-elect Donald Trump announced plans to impose a 25% tariff on all Canadian products, citing issues related to illegal immigration and drug trafficking. This proposal has been met with strong opposition from Canadian leaders, who view such tariffs as unjustified and detrimental…

READ MORE
hvdc

Project examines potential for Europe's power grid to increase HVDC Technology

READ MORE

california power lines

California's future with income-based flat-fee utility bills is getting closer

READ MORE

pickering ngs

Ontario will refurbish Pickering B NGS

READ MORE

tornado survivor

Survivors of deadly tornadoes may go weeks without heat, water, electricity, Kentucky officials say

READ MORE