Greece prepares new energy funding cycle to match previous 5.9 billion euro package

The Greek Ministry of Environment and Energy is transitioning to a new funding phase for the energy transition following the completion of the Recovery and Resilience Facility. Minister Stavros Papastavrou indicated that the new financial package for the next two to three years is expected to match or exceed the previous 5.9 billion euro portfolio.

The new funding structure relies on several key instruments: the Social Climate Fund, which includes approximately 5.3 billion euros for interventions such as residential energy upgrades and heat pumps; the Islands Decarbonization Fund, valued at 2.3 billion euros; and the European energy escape clause, which is estimated to create roughly 1 billion euros in fiscal space for energy interventions through 2028.

While these funds are not a single unified pool like the previous program, they will support a wide range of projects including energy storage, electrification, island interconnections, and reducing energy costs for households and industries. Some portions of these funds, particularly regarding social housing and income support, will be managed by other ministries.