Greece energy storage infrastructure development

Greece is advancing its energy storage strategy through a combination of pumped-storage hydroelectricity and battery deployment. TERNA Energy, a subsidiary of the Masdar group, is developing a major pumped-storage project in the Imathia region of northern Greece. The investment, exceeding €1 billion, involves two components—Vrochoneira I and Vrochoneira II—designed to enhance renewable energy integration and energy security. The project has been identified by ENTSO-E as a critical component for the European electricity system through 2040.

In terms of national policy, Deputy Minister of Environment and Energy Nikos Tsafos has defended Greece’s focus on a balanced mix of storage technologies. While acknowledging that pumped storage is more complex and slower to implement than battery storage, Tsafos stated it offers “greater long-term duration and domestic added value.”

Regarding battery energy storage systems (BESS), the government recently rejected a €249 million state aid request for the Ptolemaida project by Eunice Energy Group, citing it as disproportionate compared to previous competitive tenders. To further accelerate battery deployment, the government plans to launch additional competitive tenders valued at €200 million.