The Finnish renewable energy investor Korkia plans to develop over 1 GW of solar PV capacity in Greece, in Thessaly (in partnership with GH Energy) and on the island of Crete (in partnership with AA Sunshine). The solar projects, meant to support the country’s transition away from fossil fuels, are planned together with energy storage capacity in order to help balance the Greek electrical system. The projects are expected to reach the building phase by 2024.
In addition, two subsea power transmission cables will be used between the island of Crete and the Greek mainland. The first cable has already been connected and is operational, and Korkia plans to finalise the construction of the second one by the end of 2023.
Greece aims to produce over half of its electrical power in 2030 using renewable sources (up from 36% in 2020). At the end of 2021, solar represented 16% of Greece’s installed capacity with more than 3.4 GW, and about 8% of its power production with 4.7 TWh.