Greece, Total investments of 16 billion euros are planned over the next decade

, SEE Energy News

Total investments of 16 billion euros are planned over the next decade for the development of renewable energy projects with combined installed capacity of 16 GW.

Terna Energy, a leader in Greek RES market, plans to reach an installed capacity of 3,000 MW in the next five years. The company is currently developing wind energy projects totaling 400 MW, while a further 63 projects are nearing maturity.

State-controlled Public Power Corporation (PPC) is making impressive RES market progress through its subsidiary PPC Renewables. It will make investments totaling 3.4 billion euros until 2023, 34 % of the amount related to RES investments.

Renewales is also a key focus of the Mytilineos group’s investment plans over the next few years. Its solar energy projects portfolio, representing 1,480 MW, is one of the biggest in Greece. The company has 300 MW in RES projects either operating, under construction or set for construction, as well as a further 100 MW headed for final investment decisions by the end of 2021. Mytilineos also plans to develop 20 energy storage projects, each with a 50 MW capacity.

Oil refiner Hellenic Petoleum (ELPE) is aiming for a 2 GW RES portfolio by 2030. Its peer, Motor Oil Hellas recently acquired 11 operating wind farms with a total 220 MW installed capacity. It is aiming for an operating RES capacity of 364 MW by the end of 2022 as well as a medium-term RES goal of between 500 to 600 MW.

Ellaktor is planning investments worth one billion euros for the development of 900 MW through its partnership with Portugal’s EDPR.

 Contractor Intrakat also has one billion euros RES investment plan. The company has joined forces with Gaia Anemos, with wind and solar production licenses representing approximately 1 GW.

RF Energy has reached an investment decision to develop an offshore wind farm with a capacity of 498.15 MW northeast of the island Limnos. The project is budgeted at 2 billion euros.