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Sustainable Business

Greece to seek investors for 700 megawatt battery storage in autumn-minister

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A Greek national flag flutters as people visit a beach, following the coronavirus disease (COVID-19) outbreak, in Athens, Greece, April 28, 2020. Picture taken April 28, 2020. REUTERS/Goran Tomasevic

ATHENS, June 9 (Reuters) - Greece plans to invite investors to build batteries for renewable energy power, with a total storage capacity of 700 megawatt, later this year, the energy minister said late on Tuesday.

Speaking at a digital conference, Energy Minister Kostas Skrekas said that Greece will launch a tender for storage batteries in autumn, budgeted at 200 million euros.

Greece aims to reach a 35% share of renewables in final energy consumption by 2030, up from about 20% last year, as it plans to shut down all but one of its coal-fired plants by 2023 to help reduce carbon emissions and cut dependence on fossil fuel.

The country will also look to produce hydrogen, Skrekas said, adding that a "road map" on the technology will be announced in July.

Athens plans to spend about 5 billion euros from a European Union post-pandemic recovery plan over the next five years to upgrade its electricity grid, restore coal mines, set up chargers for electric cars and improve energy efficiency of private and public buildings.

Reporting by Angeliki Koutantou Editing by Chizu Nomiyama

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