Greece fast-tracks renewables with bold new energy bill and storage incentives

Greece has unveiled a new energy bill aimed at speeding up renewable projects and boosting battery storage capacity. The Ministry of Environment and Energy submitted the draft law for public consultation this week. Among its key measures are faster licensing for wind farms and expanded incentives for self-produced energy. The proposed legislation cuts the maximum licensing time for wind farms to 1.5 years. It also designates specific zones for renewable projects, including repowering older units. These changes require follow-up decrees from the ministry and approval from local authorities.

Investors in battery storage will benefit from more flexible rules. They can now keep letters of guarantee until their systems connect to the grid. The first two standalone batteries, with 16 MW of capacity, are already trading in day-ahead and intraday markets. Another 300 MW of storage is set to come online later this month, with 700 MW expected by July. The bill extends net metering and net billing to municipalities and irrigation groups. Virtual net metering will apply for the first decade of a project's 25-year lifespan, before switching to net billing. These incentives aim to encourage local energy production and consumption. Offshore wind is another focus. Greece plans 12 GW of capacity in designated marine zones, including the Aegean and Ionian Seas. The bill allows for wind and bathymetric surveys in these areas, targeting an initial 1.9 GW of offshore wind. However, the national offshore wind programme has seen no progress since October 2024. The EU has also mandated compensation for investors if further delays occur.

The new law seeks to accelerate Greece's shift to renewable energy by simplifying permits and supporting storage projects. With stricter timelines and expanded incentives, the government aims to meet its clean energy targets. The success of these measures will depend on swift implementation by local and national bodies.