October 2024 / Policy Papers
State Aid: Overview of Greek Scheme to Support the Development of Electricity Storage Facilities
The European Commission approved a Greek state aid scheme (SA.64736) in September 2022, under the Recovery and Resilience Facility (RRF), aimed at promoting investments in electricity storage facilities and facilitating the decarbonisation of Greece’s electricity system. The scheme, open to all storage technologies, offers investment aid covering approximately 40-50% of a project’s capital expenditure (CAPEX), and operational aid in the form of 10-year two-way Contracts of Difference (CfDs). The total budget of the scheme amounts to EUR 341 million, allocated for a capacity of 900/1000 MW, which is split into three rounds of a competitive tendering process. As of now, two rounds have been completed, with awarded capacities of 411.79 MW and 299.775 MW respectively.
Made public on October 2024.