Skylakis: Top successful loans by the REPower EU – Proceeds with high speeds its implementation

Greece is currently halfway to the implementation of the European REPower EU programme with a horizon of 2026. According to the Minister for Environment and Energy, the government has completed the reforms it needed and is moving forward with optimism on the follow-up. Theodoros Skylakakis said at an IOBE event that Greece is ahead of most other countries in the progress of the REPower. However, she has before her the most difficult piece, which can be influenced by exogenous factors such as appeals to competitions, or international disturbances. In any case, Mr. Skylakakis estimates that there are no outstanding issues today, while the REPower loan arm is the most successful tool in Greece. Within the next few days the new legislative initiative on RES projects is expected. It will include adding batteries for projects that will descend into competitions, as well as higher mandatory production cuts in peak hours. Close deadlines for regulatory frameworks and new projects The Greek part of the REPower includes a series of projects, amounting to EUR 795 million, specifically for the ‘Economy’ (560 million), hydrogen and biomethane (75 million), the CCS supply chain (75 million) and 85 million for energy storage systems. In previous days a Commission delegation has had meetings with the RIS to establish the progress made with regard to the implementation of the REPower EU. This year the implementation programme plans to complete a number of regulatory frameworks concerning hydrogen, biomethane, carbon capture and storage (CCS) and offshore wind farms. At the same time, the government is asked to approve 9,700 applications of the “Economy Business” programme, i.e. a significant speed is required. At the same time, the Commission is concerned about the implementation of energy storage projects that received the green light through the two competitions preceding the summer of 2023. Those projects should necessarily be completed by 2026 with the support of the Recovery Fund.