The European Commission announced, on Tuesday 2 April, that it had authorised, under EU State aid rules, Greek aid schemes with a budget of €1 billion to support two renewable energy production and storage projects in Greece.
Firstly, support will go to the Faethon project, which involves the construction of two photovoltaic units, each with a capacity of 252 MW, integrated molten salt thermal storage units and a very high voltage substation.
Secondly, this aid will support the Seli project, designed to optimise electricity production, which includes the construction of a 309 MW photovoltaic unit with an integrated lithium-ion battery energy storage system.
The construction phases of these two projects are expected to be completed by the end of the first half of 2025.
The aid will take the form of a bilateral contract for differences over a period of twenty years. A technical committee will be responsible for determining the exercise price. (Original version in French by Émilie Vanderhulst)