In 2024, applications for power grid connection terms for renewable energy projects in Greece have surged, according to data released by the Independent Power Transmission Operator (IPTO). A total of 13 GW of new renewable electricity projects have applied for connection terms, representing about 50% of the country’s installation goal of 24.3 GW by 2030, as outlined in the revised National Energy and Climate Plan (NECP).
Current State of Projects
Currently, the total number of unrealized projects awaiting connection terms has reached 47 GW, with the majority being photovoltaic installations. This influx of applications comes despite curtailments affecting 3.7% of green power production in 2024, a figure that is expected to rise in 2025. The grid’s capacity struggles to support this rapid expansion, even as operators have increased their efforts and investments in recent years.
Photovoltaic Market Outlook
According to SolarPower Europe, the Greek photovoltaics market is described as “unstoppable.” This year, 2.9 GW of new capacity is anticipated to become operational, following two consecutive record years in 2022 and 2023. However, experts predict that 2025 will mark a peak in capacity growth. “In 2025, we expect to reach the peak, with almost the same capacity as this year,” stated Stelios Psomas, a policy advisor at the Hellenic Association of Photovoltaic Companies (HELAPCO).
Trends in Energy Storage
Interestingly, many investors are pursuing renewable projects without integrating battery energy storage systems. As reported by Energypress, only 12.5% of submissions to IPTO in December included storage solutions. Nonetheless, there are currently 14.5 GW in applications for behind-the-meter units, which cannot draw energy from the grid, and 4.7 GW for front-of-the-meter facilities that can.
The Regulatory Authority for Waste, Energy and Water (RAAEY) received 49 applications for standalone storage systems in December, with 20 applications for pumped storage hydropower plants and 29 for battery systems. Interest in pumped storage projects has notably increased this year, with developers submitting 50 applications totaling 9.81 GW in capacity.
