GREECE Law and Practice Contributed by: Aris Papaspyridis, Virginia Kokios and Konstantinos Kounelis, AP Legal
Solar and Wind No major regulatory changes have occurred in the photovoltaic (PV) or wind sectors, which continue to operate under stable and mature frameworks. How- ever, there has been a slowdown in the licensing of new PV projects, largely due to administrative delays and limited grid capacity. In contrast, the completion of existing projects continues steadily, underlining the resilience of the Greek renewable energy market and investors’ confidence. Battery Energy Storage Systems Battery energy storage has become a strategic priority in Greece’s energy policy, serving as a key enabler for grid flexibility and renewable integration. The revised National Energy and Climate Plan (NECP) increased national storage targets, reflecting the growing need to balance variable renewable generation. Furthermore, the Regulatory Authority for Waste, Energy and Water (RAAEY) has continued to launch dedicated tenders for battery energy storage system (BESS) capacity, while the enactment of a new regulatory framework grants connection priority to standalone storage facili- ties and hybrid renewable projects over conventional PV parks. 1.3 Access to the Energy and Infrastructure M&A Market Investor Approaches Investors seeking to participate in Greece’s energy and infrastructure M&A market typically access opportuni- ties by acquiring existing licensed projects or by pur- chasing equity stakes in project-holding companies. Transactions often involve the transfer of generation, storage or grid-connected assets that already hold valid permits and grid-connection rights, enabling investors to minimise regulatory risk and acceler- ate market entry. It is also common for investors to acquire companies that have not yet developed their projects but that possess licences or – more impor- tantly – have secured grid-connection capacity, which remains one of the most valuable assets in the current market environment. Investor Profile The Greek market attracts a diverse investor base, including large domestic energy groups, foreign stra- tegic investors, and smaller independent developers.
Strategic investors from Europe, the Middle East, and Asia continue to view Greece as an entry point to South-Eastern Europe’s expanding clean-energy market. Alongside these major players, there is also a large number of small renewable energy producers highlighting the country’s diversity within the energy market. 1.4 Energy and Infrastructure Projects Greece’s current investment landscape is dominated by renewable generation, storage expansion, and grid-modernisation projects, with conventional power playing a gradually diminishing role. Major ongoing developments include solar and wind parks, BESS projects, and transmission-infrastructure upgrades that will integrate both island and cross-border net- works. According to Low Carbon Power (2025), around 52% of Greece’s electricity is now generated from low-carbon sources – approximately 21% solar, 20% wind, and 6% hydropower – whereas fossil fuels still account for about 48%, comprising mainly natural gas (approxi- mately 42%) and a small share of coal (approximately 6%). This mix underlines the country’s accelerating transition towards renewable energy while maintaining gas-fired generation for system stability. Planned and ongoing projects reflect this balance. The revised National Energy and Climate Plan (NECP) targets 43% of gross final energy consumption from renewables by 2030, supported by new solar and wind installations, as well as the continued development of major interconnectors – for example, the Crete–Attica and North-East Aegean links, together with the Great Sea Interconnector (the submarine cable connecting Greece, Cyprus and Israel). Another important project is the development of the Greek AI factory named “Pharos”, which is part of the EU’s AI factories initiative and focuses on sustainabil- ity as one of its pillars, along with health and culture/ languages. For further details, please see the Greek Trends and Developments chapter of this guide.
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