ECONOMY

Adapting energy policy requires major investment

adapting-energy-policy-requires-major-investment

Investments worth 50 billion euros will be required until 2030 for Greece to adapt its energy policy to new data resulting from global climate change and its impact, National Bank of Greece Chief Executive Officer Pavlos Mylonas said at the 5th Southeast Europe Energy Forum held in Thessaloniki on Friday.

These funds will be directed to the field of renewable energy sources, and to the distribution, efficiency and storage of electricity, he noted.

However, RES will take some time to develop, he underlined, therefore natural gas will be the fuel used in the transitional period of at least the next 10 years.

So far, Greece is “ahead of developments,” he said, describing the goals set by the government as ambitious.

Energy storage should increase from 10% today to 20% in 2025 and 70% in 2050, he added.

“Think about what we need to do to achieve this goal,” he pointed out.

The Southeast Europe Energy Forum was organized in cooperation with the American-Hellenic Chamber of Commerce, the US Embassy in Greece and the Atlantic Council.