ECONOMY

Autumn tender for RES power storage batteries

autumn-tender-for-res-power-storage-batteries

Greece plans to invite investors to build batteries for renewable energy power, with a total storage capacity of 700 megawatts, later this year, Energy Minister Kostas Skrekas said late on Tuesday.

Speaking at a digital conference, Skrekas said that Greece will launch a tender for storage batteries in autumn, budgeted at 200 million euros.

Greece aims to reach a 35% share of renewables in final energy consumption by 2030, up from about 20% last year, as it plans to shut down all but one of its coal-fired plants by 2023 to help reduce carbon emissions and cut dependence on fossil fuel.

The country will also look to produce hydrogen, Skrekas said, adding that a “roadmap” on the technology will be announced in July.

Athens plans to spend about €5 billion from a European Union post-pandemic recovery plan over the next five years to upgrade its electricity grid, restore mining sites to their former condition, set up chargers for electric cars and improve the energy efficiency of private and public buildings. [Reuters]