Does Greece have a battery storage pipeline?

Greece has emerged as one of the countries with the largest pipeline of battery storage projects, but as yet there has been little activity on the ground. This is changing as the long-awaited storage subsidy auctions have started, with the first projects being awarded support for both investment and operating costs.

Why does Greece need gas storage?

The need for storage in Greece will accelerate rapidly over the next decade as renewables targets are revised upwards and coal plants are closed. The pivot to gas, a core part of the country’s energy strategy just a couple of years ago, has been upended by the disruption to supplies and price volatility caused by Russia’s invasion of Ukraine.

Why is Greece launching a battery storage auction?

Initially a response to the COVID 19 pandemic, the focus has pivoted to support Greece’s green energy transition. The storage auctions themselves require further approval under EU State aid rules. The pipeline of prospective battery storage projects now approaches 27GW, with over 500 projects granted a storage license.

What is the long-term business case for storage in Greece?

The long term business case for storage will be supported by increasing interconnection, opening ancillary services and Greece’s accession to the market coupling platforms, but until then, public funding is required to kickstart investment. Funding was first announced in 2021 as part of the National Recovery and Resilience Plan.

Why is Greece launching a storage auction in 2021?

Funding was first announced in 2021 as part of the National Recovery and Resilience Plan. Initially a response to the COVID 19 pandemic, the focus has pivoted to support Greece’s green energy transition. The storage auctions themselves require further approval under EU State aid rules.

Which Greek companies did not get funding?

While funding was awarded to established Greek companies, notable losers included Eunice and TERNA Energy. Significant international entities also missed out , with Iberdrola submitting 2 projects totalling 90MW, and Aquila Capital’s 30MW bid. This still leaves over 23GW that did not enter the auction.