“Green” energy investments worth more than 2.5 bln euros scheduled in 2018-2020

Greek Environment and Energy Minister George Stathakis on Thursday signed a ministerial decision outlining the timetable and technical characteristics of auctions for new electricity production units using renewable energy sources in the 2018-2020 period.

The decision is based on a recommendation by the Regulatory Authority for Energy and envisages auctions for a total installation of 2600 MW generated by windpower and photovoltaics, from a total investment budget of 2.5-3.0 billion euros.

The timetable envisages auctions for 1000 MW in 2018 and 2019 and 600 MW for 2020. The price ceiling to start the auctions on selling prices of green energy will be 90 euros per MWh for windpower, 85 euros for photovoltaics (with a power of 0.5-1.0 MW) and 80 euros for photovoltaics (with a power of 1-20 MW).

All other technologies (small hydroelectric plants, biomass, etc) are exempted from competitive bid offer procedures until satisfactory competition conditions prevail in the country.

“Today’s decision is a significant step in three-year investment plan worth more than 2.5 billion euros in renewable energy sources. With the new competitive procedure, transparency is significantly strengthened and conditions are created to push prices lower for consumers during the transition to a more “green” mixture of energy,” the ministry said in an announcement.