The European Commission (EC) has approved a 2.27 billion euros support mechanism proposed by Greece aimed to increase production of electricity from renewable energy sources.
The statement from the Commission said that the measures will help Greece meet its renewable energy targets, without unduly distorting competition. Greek Government, aiming for renewables to account for 61 % of final electricity consumption by 2030, compared to 29 % in 2020, is planning to reduce the licensing procedure for RES projects to two to three years, compared to current eight years period.