Greece Will Open Its First Round Of Renewable Energy Bids In July

- May 23, 2018-

Recently, Greece's energy minister, said the Greek is preparing a batch of solar and wind power clean energy projects, accumulative total installed capacity of 2.6 gw, attract investment and strengthen the Mediterranean countries renewable energy footprint.


According to the government announcement, the first round of renewable energy bidding for Greece will be held on July 2, including 300 megawatts of wind power and 300 megawatts of solar power.Industry insiders say there have been a lot of strong interest in the wind market, including many foreign investors, especially private equity funds.

Greece is known for its sunshine, the main driver of tourism, but it also has good wind resources.Like all eu members, it has a legally binding clean energy target, which aims to generate 18 per cent of renewable energy by 2020.According to the plan, 2018-2020, Greece every year will invest 300 megawatts of wind power and 300 megawatts of solar power generation, and will be held twice, 400 megawatts of tender, with a total installed capacity of 2.6 gw, the equivalent of two nuclear reactors.

The government said the first round of bids in July would be open to three to 50 megawatts of wind power projects and two types of solar projects under 1 mw and 1 to 20 megawatts.European investment Banks and ebrd are active in the Greek market and are likely to lend to developers of these projects.Last year, the European bank for reconstruction and development pledged 300 million euros to finance renewable energy in Mediterranean countries.