GREECE Trends and Developments Contributed by: Evangelos (Evans) Courakis, Eleni Svoronou, Dimitra Rossopoulou, Maria Konstantina (Mariadina) Lili Kokkori and Evangelos Konitsas, Koutalidis Law Firm
Koutalidis Law Firm The Orbit, 115 Kifissias Avenue Athens 115 24 Greece Tel: +30 210 3607 811 Email: info@koutalidis.gr Web: www.koutalidis.gr
Grid Reform and Green Ambition: Greece’s Strategic Energy Shift Introduction In recent years, Greece has emerged as one of Europe’s most dynamic and forward-looking energy markets, establishing itself as a pre- mier destination for clean energy investment. Its ongoing energy transition is underpinned by a strong political mandate, a highly engaged private sector, and ambitious national climate objectives that align closely with the EU’s broad- er de-carbonisation agenda. In 2024, Greece maintained a consistently high share of renewables in its electricity mix, under- scoring both policy continuity and investor con- fidence. At the same time, the country acceler- ated key reforms in energy storage, cross-border interconnections, and the development of inno- vative contractual and regulatory tools, such as tolling agreements and early-stage policy frame- works for green hydrogen deployment. These reforms were targeted to enhance grid reliabil- ity, reduce renewable energy curtailments, and enable the efficient integration of new technolo- gies and business models into the energy mar- ket. Moreover, they reflect a strategic shift from subsidy-driven growth toward a more market- oriented, flexible, and investor-friendly regulato- ry environment capable of supporting Greece’s climate targets and regional energy ambitions.
Now, as the first half of 2025 concludes, Greece’s energy transformation is entering a more mature phase characterised by increasing regulatory sophistication, infrastructure modernisation, and the gradual integration of market-based mecha- nisms into both traditional and emerging sec- tors. This chapter examines the key pillars of this evolution, spanning generation, transmission and distribution, while also highlighting emerg- ing investment trends, novel project structures and cutting-edge regulatory instruments that are reshaping the landscape. Power generation Greece continues its trajectory towards decar- bonisation, with renewables leading the way. As of early 2025, more than 10.2 GW of RES pro- jects are operational, and the updated National Energy and Climate Plan (NECP) sets a target of 80% RES participation in gross electricity consumption by 2030. Wind and solar remain dominant technologies in the pipeline. However, the first months of 2025 also reflected the chal- lenges of balancing this rapid growth with grid constraints. In April 2025, renewable energy sources gener- ated 1,960 GWh, maintaining their lead in elec- tricity production despite a 15.6% decrease compared to March – primarily due to reduced wind output. While renewables continue to dom-
94
CHAMBERS.COM
Powered by FlippingBook