After several warnings by the European Commission, Greece is finally moving to integrate the Renewable Energy Directive (RED3).
The Ministry of Environment and Energy submitted an extensive bill of law for public consultation. It includes several articles requiring much faster licensing times from national authorities when it comes to renewable energy projects of all kinds. The goal is to reduce the total to a maximum of 1.5 years for wind farms instead of the current ten years
The law also specifies go-to areas for renewable projects and the repowering of existing units. From now on, various ministerial decrees would be required to carry out these goals, with state and local licensing bodies called upon to enact them properly. The European Union specifies that in the case of new delays, investors must be compensated.
Offshore wind surveys to commence
Apart from the stipulations concerning RED3, the bill paves the way for wind and bathymetric surveys in areas designated for offshore wind, on behalf of the Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA).
The aim is for these marine zones to eventually host the first 1.9 GW. The national offshore program is late, with no progress since October 2024.
More leeway for batteries
The law provides some leeway for investors in battery storage. They may retain their letters of guarantee until the connection to the electricity system, regardless of delays in required grid works.
The first two standalone batteries have been connected and participate in the day-ahead and intraday markets. They ammount to just 16 MW of capacity, although 300 MW is expected to come online later this month. Eventually, 700 MW of supported batteries are to be completed by July.
Mix of net metering and net billing for municipalities
Self-production and self-consumption also get a boost. The ministry would extend the mechanisms to municipalities and water irrigation organizations around the country. These bodies may now utilize virtual net metering for the first ten years of a unit and net billing for the rest of its 25-year life span.
It remains to be seen whether such investors will be able to realize renewable projects without support, as many of them are facing high debt.
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