Greece is on track for a record year in renewable energy installations in 2026, with up to 4 GW of new capacity expected to come online. However, this rapid expansion is not being matched by storage deployment, raising concerns over grid balancing and the financial sustainability of projects. About 1.2 GW of new renewable capacity was connected to the grid in the first quarter, rising to around 1.5 GW over the first five months. With a substantial pipeline of projects already at advanced construction stages, the market considers the 4 GW target within reach, barring major technical problems or delays.
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The increase would surpass the previous annual record of 2.73 GW, set in 2024 after a further 2.19 GW was added last year. Solar continues to dominate the expansion, with installed photovoltaic capacity reaching 13 GW in May 2026, putting Greece on course to exceed the National Energy and Climate Plan's 2030 target of 13.5 GW this year.
Batteries can't keep pace
Storage, by contrast, is lagging significantly. Battery installations are expected to total only about 1.1 GW this year, against 4 GW of new renewable capacity, while just 350 MW of additional batteries are expected in the first half of 2027. A further 1 GW of storage projects at common connection points could become operational within 12 to 18 months of receiving connection terms.
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A planned Environment and Energy Ministry call could pave the way for up to 4.7 GW of batteries, but market participants stress that connection terms must be issued this year for the first projects to be ready by end-2028. Meanwhile, rising renewable penetration and increasingly frequent negative wholesale prices and curtailments of renewable output are expected to intensify revenue losses, particularly for projects receiving feed-in premiums. (Kostas Deligiannis/hcn)
First published on the Greek energy portal energypress.gr
