ENERGY

RES needs investment in hardware

res-needs-investment-in-hardware

Energy investments and reforms may take a major chunk of the “Greece 2.0” Recovery and Resilience Plan, but there is little attention granted to investing in renewable energy source (RES) hardware and infrastructure, according to study by the Institute of Energy for Southeast Europe (IENE).

Among the projects to secure funding from the recovery plan are the growth and modernization of the national grid (307 million euros), that combined with energy storage (€450 million) will lead to a robust grid that will support RES development.

However, a major cause for concern per the IENE is the absence from the “Greece 2.0” plan of any subsidized investments in the Greek industry producing the equipment that is necessary for RES installation and in infrastructures; that would be crucial for this industry to play a supportive role to the construction of RES projects and act as a catalyst in the creation of local knowhow, employment and domestic added value, which in turn would reduce the importing of products and systems related to RES, and would strengthen exports.

IENE even speaks of the risk of missing out on a great opportunity to truly boost the RES sector.