Greece vows €35 billion investment for energy transition

(EurActiv, 4 Feb 2019) The Greek ministry of energy has finally submitted a new national energy and climate plan to the European Commission. It aims to reduce dependence on lignite power and increase the use of renewable energy. EURACTIV Greece reports.

“For the first time Greece now has a long-term plan for the energy sector: The National Energy and Climate Plan, which describes the framework for investments totaling €35 billion,” Minister of Environment and Energy George Stathakis told EURACTIV.gr.

The plan, which was submitted to the EU executive a month late, noted that the transition to a green economy would be based on institution building, such as energy exchange, market transformation and consumer support.

“It is a very important policy document, as it describes precisely the necessary steps towards clean energy and coal phase-out. They are ambitious, but also realistic. We set targets and priorities, we record quantitative and qualitative objectives, and we are sure that we will be in a position to deliver them by 2030,” the minister said.

The three pillars

According to the Stathakis, the first pillar refers to a radical change of Greece’s energy mix, favouring renewables, up to the 32% of final consumption.

To achieve this goal, the plan foresees a radical transformation of the electricity sector, as renewable energy will substitute fossil fuels with over 55% of final electricity consumption.

The plan says lignite will be progressively reduced, but it continues to help reduce the country’s dependency on imports, while natural gas continues to be used in electricity by providing necessary flexibility.

”It is also important to increase natural gas penetration in heating, more than doubling its use in the building sector,” the plan noted.

External link

EurActiv, 4 Feb 2019: Greece vows €35 billion investment for energy transition