The European Commission on Wednesday 24 November approved €2.27 billion of Greek support for electricity generation from renewable energy sources and high-efficiency cogeneration of heat and power under EU State Aid rules.
The measure will help Greece meet its renewable energy targets without unduly distorting competition and will contribute to the new EU target of climate neutrality by 2050.
The various renewable energy sources concerned are onshore wind, photovoltaics, wind and photovoltaics with storage, biogas, biomass, landfill gas, hydroelectric power, concentrated solar power and geothermal power plants. High efficiency cogeneration of heat and power will also be supported.
For both onshore wind and solar installations, the aid will be granted through a common tender procedure organised by Greece in order to increase competition and reduce the cost of renewable energy for consumers. For auctioned electricity production, the aid will take the form of a two-way contract for differences premium. (Original version in French by Lionel Changeur)