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Kyriakos Mitsotakis, at the Eurelectric Power Summit: Greece can become a net exporter of electricity

23 May 2024
Bogdan Tudorache

Greece can become a net exporter of electricity, and the influx of investors in renewables is significant, Greek Prime Minister Kyriakos Mitsotakis said at the Eurelectric Power Summit.

“We assumed that Greece would close its coal plants before 2028. We are now very close to meeting this target, lignite generation has fallen to its lowest level in 50 years and the energy supplied has fallen by 87% compared to the peak level. And as coal disappears, it is replaced by renewables,” said Greek Prime Minister Kyriakos Mitsotakis.

“Since 2019, we have doubled our renewable resources capacity, both solar and wind, and Greece is now one of the world leaders when it comes to wind and solar penetration, after Denmark. In 2023 we doubled our investments in networks, compared to the period 2020-2022, which also recorded 50% more investments compared to the period 2012-2019. We’ve invested in hydro, we’ve had two tenders for storage…PPC has an important role to play in hydro, and proper management of hydro can help both balance the grid and ensure our resilience in the fight against climate change “, he also said.

He stated that Greece is experiencing a large influx of investors in renewables, and one of the resources it will rely on in the future will be offshore wind.

“Greece can become a net exporter of electricity in the years to come. This is already happening at certain time intervals, but as we exploit our potential, these hours will multiply. And by crossing national borders, we also managed to influence the European agenda when it comes to energy. Greece is no longer perceived as a problem child of Europe, but as a reliable country with influence at the European level,” he added, explaining that Greece has an important role to play when it comes to the gas crisis triggered by the conflict from Ukraine.

“I was the first to bring the issue of networks and interconnections to the level of the European Council. This was the starting point for the EU network Action Plan. They have a key role to play, not only in the energy transition, but also in the interconnection of islands, such as Crete – my home region, and the interconnections extend within the most important islands”.

He explained that interconnections should play a bigger role in Europe, where the lack of a single market is caused by their absence. “The interconnections help us balance our system more easily, especially if we combine them with the Mediterranean sun and the north wind.”


Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.

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