SEEF 2021: 50 billion euros in investments will be required for Greece to adapt energy policy against climate change, says NBG CEO Milonas

Investments worth 50 billion euros will be required until 2030 for Greece to adapt its energy policy to new data created by the global climate change and its impact, said National Bank of Greece Chief Executive Officer Pavlos Mylonas, at the 5th Southeast Europe Energy Forum held in Thessaloniki on Friday.

These funds will be directed to the fields of Renewable Energy Sources, and to the distribution, efficiency and storage of electricity, he noted. However, RESs will take some time to develop, he underlined, therefore natural gas will be the fuel used in a transitional period of at least the next 10 years.

So far Greece is “ahead of developments,” he said and he described as ambitious the goals set by the Greek government.

Energy storage should increase from 10% today to 20% in 2025 and 70% in 2050, he added. “Think about what we need to do to achieve this goal,” he pointed out.

The Southeast Europe Energy Forum is organized in cooperation with the American-Hellenic Chamber of Commerce, the US Embassy in Greece and the Atlantic Council.

Athens-Macedonian News Agency (ANA-MPA) is a media partner of the American-Hellenic Chamber of Commerce in SEEF 2021, and the conference’s proceedings are broadcast on the special thematic website