French renewable energy group Akuo plans to invest €1bn in Greece by 2025 to develop 750 MW of solar PV capacity, plus another 284 MW in partnership with Italy’s Enel. The company has applied for renewable production licences totalling 1 GW of wind and solar capacity and has recently acquired three wind power plants in Pella, Central Macedonia, investing €150m.
Under its National Energy and Climate Plan (NECP), Greece has set a target of more than 35% of renewables in the gross final energy consumption by 2030; renewables should cover between 61% and 64% of final electricity consumption, 40% of heating and cooling energy consumption and 14% of transport consumption. By 2030, the wind power capacity should double from 3.5 GW in 2019 to 7 GW in 2030, while the solar PV capacity should more than double from 2.8 GW in 2019 to 7.7 GW in 2030 (from 3.4 GW to 3.7 GW for hydropower).
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