Greece, much like other European countries, is focusing on carrying out a smooth energy transition and becoming a climate neutral economy by 2050. The objectives set by the country’s National Plan for Energy and Climate for 2030 and the Long-Term Energy Planning for 2050 require integration of renewable energy sources (RES) on a big scale. The installed RES capacity is projected to more than double from the present 9.2 GW to 19 GW in 2030.
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In Greece, power generation alternatives, including non-hydropower renewables, are set to surge amid diversification and decarbonisation efforts in Greece’s power mix, although risks are rising with the locking in of gas-fired power. The non-hydropower renewables segment’s share of the market’s total generation is set to rise from 36.0% over 2021 to 50.4% by 2030. Capacity growth has been supported by a large number of power capacity auctions for both wind and solar, which have proved successful in delivering a large project pipeline. The wind and solar segments will account for 99% of additional capacity between 2021 and 2030 and we expect that the solar segment will lead growth accounting for 57% of additions.
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