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8,6 bln euros from the EU to be allocated to the big energy projects in Greece



Φωτογραφία Αρχείου-Πηγή: Unsplash

The resources of the European Union that will be directed to Greece and will concern energy and environmental projects will be important. These are the funds that will flow into our country through the Recovery Fund and the new NSRF 2021-2027.

Both funds place particular emphasis on Energy and the Environment with total funding of € 8.6 billion. 3.3 of them will come from the resources of the Recovery Fund, while the rest from the new NSRF, as announced last week.

The protagonists of the projects under financing are the island electrical interconnections, the de-ligation masterplan, the projects for the maintenance of the HEDNO network as well as the tender for smart meters, among others.

The Recovery Fund

The Recovery Fund will make a significant contribution to the completion of energy projects in Greece and its main feature is the fact that the projects should be auctioned and completed immediately, so that they are within the time limits set by the European Union.

This condition, on the one hand, works “pressively” for large projects, but on the other hand, it also gives the necessary impetus so that there are no bureaucratic entanglements, the relevant tenders are announced soon and the projects are completed without obstacles.

Island Electrical connections

The main project that will be financed through the Recovery Fund is the 4th Phase of the Electrical Interconnection of the Cyclades. The project is already in the tender process with the evaluation of the technical studies to have already been completed and to know the suitors for the submarine cable that will connect Naxos with Santorini and the construction of the Substation in Santorini.

The amount that will be allocated for the project amounts to 165 million euros, covering almost 50% of the total budget for the FP Phase, which amounts to 408 million, if we take into account the new tenders that, as you have already read at , will be announced in the fall. These will concern the construction of four submarine cables as well as the construction of four substations in Serifos, Milos and Folegandros.

The works of HEDNO

In addition, three HEDNO projects will be funded. The first concerns the undergrounding of overhead power cables with the amount available amounting to 100 million euros, which will “break” to 60 million for interventions in large urban centers and 40 million for projects in forest areas.

At the same time, the Recovery Fund also includes the well-known project of HEDNO for the installation of 7.5 million smart meters. The initial amount of financing, which will come through loan agreements, is estimated at 200 million euros.

However, as you have already read on, the dialogue between the EU and RIS is still in its infancy and it is not ruled out that funding could increase to € 450 million, according to sources close to the issue.

Energy Saving For Buildings

In addition, 450 million euros will be financed for the creation of energy storage systems, which concerns the strengthening of energy storage (via batteries and pump storage) with a capacity of 1380 MW. It should be recalled that RIS is working on the new framework for energy storage, which is expected to be submitted to the Commission in the autumn.

The largest amount from the Recovery Fund is claimed by Saving-Autonomous as the resources are estimated at 1.7 billion euros. The popular energy saving program in buildings will now consist of 3 different sub-programs, which will concern households, businesses and public buildings respectively.

Other energy projects

The rest of the projects related to the energy sector include the restoration of the soils of the old lignite mines in Western Macedonia, where 242 million euros will be directed, on the air line Corinth-KYT Koumoundourou 400 KV and accompanying projects with 30 million euros.

Also included is the increase of the power of electricity substations with 12 million euros, and the consolidation of the special RES account (ELAPE) with 202 million.

The new NSRF

Of the total resources of the new NSRF (2021-2027), which amount to 20.9 billion euros, at least 25%, ie 5.2 billion, will be directed to actions for the green transition of the economy.

This amount comes from the two sectoral programs entitled “Environment, Energy and Climate Change” and “Fair Development” through which funds worth 3.6 and 1.6 billion respectively will flow.

These two programs will finance actions and investments related to investments for the penetration of RES, environmental protection, the circular economy, tackling climate change and the carbonization of Western Macedonia, Megalopolis and the new and islands.

What actions and investments are funded

The Program “Environment, Energy and Climate Change” concerns actions in the field of Environment, such as for example the protection of the natural environment and the management of liquid – solid waste and the promotion of a circular economy, among others.

Actions will also be funded to prevent, mitigate and address the effects of Climate Change, saving and energy efficiency, implementing the national energy and climate plan, and promoting RES energy production.

The “Fair Development Transition” Program mainly concerns the areas that play a leading role in the de-lignification masterplan, namely Western Macedonia and Megalopolis.

The program will fund actions to restructure the productive system, support human resources and communities, and address the negative environmental and health consequences of lignite mining.

There is also special care for the islands, mainly Crete, the North and the South Aegean, where projects for the electrical interconnection with the mainland system are carried out or are being carried out at various stages of the auction. To point out that a separate managing authority will be created for this action.

The aim is to make the necessary investments to stop the use of oil plants as well as the independence of the islands from mass summer tourism and the purchase of real estate.




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