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EU Commission approves Greece’s EUR 2.3 bn renewable energy electricity scheme

By District Energy posted 11-30-2021 16:31

  

Think GeoEnergy

Summary

The European Commission has approved, under EU State aid rules, a EUR 2.27 billion Greek scheme for the production of electricity from renewable sources and high efficiency combined heat and power (CHP). The measure will help Greece reach its renewable energy targets, without unduly distorting competition, and will contribute to the new European objective of achieving climate neutrality by 2050.

Executive Vice-President Margrethe Vestager, in charge of competition policy, said: “This Greek scheme will provide important support to a wide range of technologies generating electricity from renewable energy sources, in line with EU rules. It will support the objectives of the Green Deal, contributing to substantial reductions in greenhouse emissions. The selection of the beneficiaries through a competitive bidding process for the main supported technologies will ensure the best value for taxpayers’ money and will minimise possible distortions of competition.”

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