Greece to launch 200 million euro battery storage subsidy program

The Greek Ministry of Environment and Energy is preparing a 200 million euro subsidy program aimed at battery storage investments. This initiative is expected to attract significant interest from energy sector companies looking to enhance their storage capabilities with limited investment costs.

The program will provide opportunities for both renewable energy producers and investors developing autonomous storage units. By storing electricity during periods of low prices and utilizing it when wholesale costs peak, businesses aim to reduce operational expenses and increase competitiveness.

Procedures for granting these subsidies are expected to be finalized toward the end of the year, following the preparation of invitations and tenders. The funding will be sourced from the energy escape clause, as part of a roadmap to reduce electricity prices by 30% within three years.