Looking forward, Greece’s energy policy focuses on boosting the use of renewable energy, especially for electricity generation, in tandem with increasing the share of energy demand covered by electricity, especially for transport and heating and cooling.
The Greek energy regulator has awarded 300 MW of new battery storage capacity in the nation's second energy storage tender, split among 11 projects. The tender is part of the country’s 1 GW energy storage auction program. The projects range in size from 8,875 MW/17,75 MWh to 49,9 MW/100 MWh).
Greece has been actively focusing on energy storage since the emergence of the RES “boom” in 2020. The country recognised the pivotal role of energy storage in the energy transition and emphasised its importance in the first iteration of the country’s National Energy and Climate Plan in 2019.
A new floating storage unit at the liquefied natural gas (LNG) terminal started operations in August 2022; thanks to the new unit, LNG cargoes have doubled year-on-year, while imports from Russia have dropped from 40% to less than 20% of Greece’s gas supply.
The legislative framework governing (in general) the operation of the electricity market and the energy sector in Greece is set by Law 4001/2011.
Greece’s first energy storage tender took place last year. It awarded 12 energy storage projects, or 411,79 ΜW of capacity, with an average price of €49,748/MW per year. To conclude its energy storage auction program, Greece needs to run a third storage tender to account for the remainder of the program’s 1 GW of capacity.