Greece and Cyprus face energy infrastructure and storage challenges

In Greece, photovoltaic capacity has grown faster than anticipated, with installed power reaching 13.8 GW in July. This figure already exceeds the 13.5 GW target set by the National Energy and Climate Plan for 2030, achieving the milestone approximately four and a half years ahead of schedule. Market analysts suggest that capacity could reach 20 GW by 2030, which would necessitate significantly higher energy storage capabilities than the 4,325 MW currently planned by the National Energy and Climate Plan. Estimates suggest storage needs could rise to approximately 8.5 GW to manage the surplus production.

In Cyprus, former Energy Minister Giorgos Papanastasiou has emphasized the urgent need for energy infrastructure implementation and strategic planning to lower electricity costs. He noted that introducing natural gas to conventional power generation could reduce costs and emissions. Additionally, he highlighted that increasing the penetration of renewable energy sources requires better infrastructure and energy storage to ensure availability outside of peak sunlight or wind hours. Papanastasiou identified the failure to complete critical infrastructure, such as the Vasilikos natural gas terminal, as a primary challenge for the country.