Greece’s battery storage build-out is nearing its next milestone. Within days, the government is due to finalise priority lists for 4.7 GW of standalone projects, a step that will set the tone for the next wave of investment decisions. Once formalised by ministerial decision, the lists will set the queue for final connection offers from transmission system operator IPTO (ADMIE in Greek) and distribution network operator HEDNO (DEDDIE).
According to Greek energy news site energypress, the evaluation committee, led by Despoina Paliarouta, secretary general for energy and mineral resources, has completed its assessment. Its recommendation now sits with Stavros Papastavrou, minister for the environment and energy, and only his final review remains.
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Demand far exceeds what is on offer. Around 720 projects, with a combined capacity of roughly 9 GW, passed the initial readiness assessment, while the call provides for only 4.7 GW: up to 3.8 GW connected to the transmission system and 900 MW to the distribution network. Market estimates put the potential investment in those 4.7 GW at around €2 billion. A place on the priority lists does not guarantee that a project will be built, but does give investors final connection terms, which show them whether their business cases stand up to scrutiny.
Financing hurdles ahead
Forecasts for how much will ultimately be installed have differed sharply. Estimates range from the full 4.7 GW to just 2–2.5 GW, with the more cautious analysts warning that many projects may struggle to secure financing. Nor are banks taking a single view. Some lenders, energypress reports, are willing to finance projects more exposed to fluctuating revenues, while others insist on stronger collateral and more predictable, contracted cash flows.
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Large energy groups are seen as better placed to secure financing, thanks to established credit lines and stronger capital bases, while smaller producers face a tougher climb and will likely have to fund around 40 percent of project costs themselves. (Kostas Deligiannis/hcn)
First published on energy portal energypress.gr
