Greece Advances Energy Transition Projects Ahead of RRF Deadline
Greece is accelerating its energy transition with the European Union's Resilience and Recovery Fund (RRF) set to expire in August. So far, 32% of RRF funding has been allocated to the Ministry of Environment and Energy, resulting in a reduction of lignite in the power mix from 60% to less than 9%, while renewable energy now accounts for 50%. Greece has achieved 240 milestones, with EUR 23.4 billion allocated and an expected increase to EUR 24.5 billion. Key projects include carbon capture initiatives and grid upgrades.
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Greece is focusing on completing energy projects before the European Union's Resilience and Recovery Fund (RRF) expires in August. The Ministry of Environment and Energy, led by Stavros Papastavrou, reports that 32% of RRF funds focus on energy.
Greece has reduced its lignite share from 60% to under 9%, increasing renewable energy to 50%. Key achievements include the installation of 7.5 GW of renewable energy and the allocation of EUR 23.4 billion, projected to rise to EUR 24.5 billion.
The Independent Power Transmission Operator received EUR 541 million for interconnections, while Hellenic Electricity Distribution Network Operator upgraded 3,400 kilometers of lines. Projects under construction include 700 MW of standalone battery storage and carbon capture initiatives.
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