The European Commission has approved, under EU State aid rules, a €341m Greek measure aimed at supporting the construction and operation of grid-connected energy storage systems totalling 900MW. The projects will be selected through a competitive bidding process, with contracts awarded by end-2023 and projects completed by end-2025.
The measure will be partly funded by the Recovery and Resilience Facility (RRF), following the Commission's positive assessment of the Greek Recovery and Resilience Plan and its adoption by the Council. The measure aims at allowing a smooth integration in the Greek electricity system of an increasing share of renewable energy coming from wind and solar sources.
The state aid will be in the form of an investment grant to the projects during construction followed by annual support during the first 10 years of operations. The funding equates to €380,000/MW.
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