National recovery and sustainability plan / Green transition / Power up

Last updated: 18 November 2022

1.1 Power up (total 2.348 bn. €, of which 1.200 from RRF)

Target: Transition to a low carbon and new energy mix, targeting to increase the share of renewable energy in gross final energy consumption, improve energy efficiency and reduce GHG emissions, through a batch of investments and reforms. Such interventions include the installation of smart meters, grid interconnection of islands (reducing energy costs and ceasing fossil fuels based power production), and enhancement of network capacity, as well as storage facilities instalment to accommodate the high shares of RES power generation. 
  • 1.1.1. Installation of electricity storage system for renewable energy development (450 mil)
  • 1.1.2. Restoration of Western Macedonia and Megalopoli where lignite industry used to be located (242 mil)
  • 1.1.3. Promotion of grid interconnection of islands and upgrades of the transmission system (reducing energy costs and ceasing fossil fuels based power production) (195 mil)
  • 1.1.4. Enhancement of network capacity to protect the electrical system again extreme weather (60 mil)
  • 1.1.5. Upgrade of electricity distribution network in forest areas to prevent fire (40 mil)
  • 1.1.6. Increase of installed capacity in existing substations to facilitate the connection of new units of electricity generation from renewable sources (12 mil)
  • 1.1.7. Reform of ELAPE to ensure its financial viability in response to the Pandemic, and expansion to exclusively accommodate the new renewable sources (202 mil)
  • 1.1.8. Market monitoring system for the National Regulatory Authoirty (RAE) and the participation of demand-side response (DSR) in the balancing market. (0 million EUR) to streamline the efficient operation of the new electricity market model and the development of new RES plants to reach NECP targets. 

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