This strategic partnership represents a significant step forward in advancing sustainable and resilient energy solutions for the future. Sunel Group and Perseus Arm are committed to harnessing the power of renewable energy and storage technologies to contribute to the green transition.Stay tuned for Contact online >>
This strategic partnership represents a significant step forward in advancing sustainable and resilient energy solutions for the future. Sunel Group and Perseus Arm are committed to harnessing the power of renewable energy and storage technologies to contribute to the green transition.Stay tuned for updates as we move forward with these transformative BESS projects in Greece!
Developer Terna Energy claims the Amphilochia pumped hydroelectric energy storage project has entered the final stretch. If built, the large scale facility can boost Greece''s independence from fossil fuels and the government''s strategy for a coal-free electricity system by 2025.
With bankability a prime concern for potential investors, a video produced by Terna Energy states the Amphilochia project will be able to generate revenue by providing grid ancillary services.
pv magazine has determined Athens will devote €450 million of the €30.5 billion it expects to secure from the EU''s post-Covid recovery and resilience facility, to energy storage. Of that €450 million, around €200 million will be channeled into battery facilities, via the planned 700 MW tender.
With Amphilochia its flagship project, Terna claims plans for smaller facilities at Amari, on Crete; at Veria; and in the Peloponnese, ensure it holds 1.5 GW of licensed pumped storage capacity in Greece.
This copy was amended on 21/06/21 to indicate the European Investment Bank is an EU body and the European Bank for Reconstruction and Development is a London-based lender which is not an EU institution. Previously the two bodies had been labelled the other way round.
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Ahead of Large Scale Solar Southern Europe next week in Athens, Greece, PV Tech spoke with some of the panellists present at the event about Greece’s solar market, including its challenges (curtailment and grid), policy support, and new technologies (agriPV, FPV or green hydrogen).
For Sotiris Kapellos – chairman at HELAPCO and chief operating officer at HELLENiQ Renewables, the solar market in Greece is at a "transition point". Kapellos says that in the past, the risks for a solar project were limited to the regulatory aspect, which affected mainly the development stage of a project and not so much the operational phase.
"The market risk was limited due to the feed-in-tariffs (FiT) and feed-in-premiums (FiP) models that guaranteed the compensation of (all) the energy produced. This has been changed. The routes to the market now are through cPPAs (corporate power purchase agreements) and merchants. This means additional risk for the investor," adds Kapellos.
National renewable energy support schemes such as the FiT and FiP have been one of the main drivers for the solar market in the country, says Ulrich Laumanns, project manager at the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), "in combination with the decreasing prices of solar PV modules."
Laumanns adds that while most of the installed solar capacity in Greece came through auctions organised by the Regulatory Authority for Energy, the impact of self-consumption schemes has been "comparatively small".
Regarding the market’s state for power purchase agreements (PPAs) and its main drivers, Evangelos Gazis – head of southeast Europe at Aurora Energy Research says there is "high competition in traditional CfD auctions resulting in low prices, and higher willingness to pay from industrial offtakers due to price volatility is driving interest in PPAs across the region."
In certain cases, such as Greece, PPAs allow to fast track grid application process, which created a "market overheat", explains Gazis. He adds that lenders are still reluctant to finance project that are fully merchant and require some form of long-term revenue stability.
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