Greece is preparing a €5 billion energy package aimed at reducing final electricity prices by about 30% by 2029, combining investment in batteries, grid interconnections, energy efficiency and distributed generation.
Prime Minister Kyriakos Mitsotakis presented the programme at the Thessaloniki International Fair.
Funding is expected to include about €2.3 billion from the Islands Decarbonisation Fund, €600 million through the EU fiscal escape clause and additional resources from the Social Climate Fund.
Storage is a central part of the strategy. Greece is targeting 3-4 GW of batteries by 2028 and 5-7 GW by 2030. Around €400 million has already been allocated through the Recovery and Resilience Facility, with another €200 million planned from the Social Climate Fund.
The additional funding will be divided among small businesses, municipalities, large renewable projects and standalone storage.
The programme comes as Greek solar capacity has reached 13.8 GW, already above the country’s 2030 target cited in the report, increasing pressure on the system to absorb surplus midday generation.
Around €1.1 billion is planned for island interconnections and €970 million for renewable-plus-storage projects comprising about 316 MW of solar and 295 MW of batteries. A further €200 million is earmarked for dams and dual-purpose reservoirs and €56 million for electric-vehicle charging.
Energy-efficiency measures are expected to receive about €2.1 billion, including support for residential renovation, 32,000 heat pumps and 68,000 solar water heaters.
The government also plans to simplify self-consumption rules, including collective schemes for apartment buildings, micro-solar systems of up to 800 watts and standalone batteries that do not inject electricity into the grid.
