Greek water sector faces €10 billion upgrade as EY‑Parthenon flags strategic overhaul

An EY‑Parthenon analysis finds that Greece’s water management sector is at a pivotal juncture. Climate‑driven drought, ageing infrastructure and high loss rates—30‑40% on average and exceeding 50% in some networks—necessitate a strategic shift from a basic public service to a critical national infrastructure. The sector is highly fragmented, comprising 129 municipal water and wastewater companies and over 450 irrigation organisations, while the two largest utilities serve roughly half the population.

Water losses, limited reuse (about 2%), and the dominance of irrigation (about 85% of total use, largely reliant on groundwater—over 70%) underscore the urgency for efficiency‑driven, circular solutions. New regulatory reforms expand the remit of the Water, Waste and Energy Authority (RAAE) and aim to reduce fragmentation, increasing oversight and transparency.

EY‑Parthenon estimates medium‑ to long‑term investment needs of around €10 billion, with more than €3 billion already earmarked by the two biggest providers. Public financing, EU funding mechanisms and growing investor interest are expected to support the modernization, expansion and resilience of Greece’s water infrastructure.