The aim of making Greek the protagonists in the energy transition is the coalification, for which the support agreement with the European Investment Bank in Naxos was signed today (21.11.2024). As the RIS leadership said, the fund’s funds will be 1.6 billion euros with the aim of leveraging investments of 3-5 billion euros or even more. This is, in other words, a ‘mini recovery fund, as stressed. Looking at individual financing, the Fund’s money will provide 550 million for the interconnection of the Dodecanese, which along with the North Aegean connections is estimated to save 3.8 billion euros in 25 years’ worth of IKO charges. A total of 135 million will be allocated for small renewable energy projects in households, businesses, municipalities and farmers. Another 140 million will support the implementation of RES projects with battery on associated islands plus 210 million for hybrid projects with batteries on unrelated islands. Within 2025, auctions will take place for these works that will be installed in Rhodes, Kos, Kalymnos, Samos, Chios and Lesvos. The aim is to penetrate RES to reach 30-40% through these investments. At the same time, the project provides for 260 million for offshore wind turbines and 30 million for electricity infrastructure and the same for ports. Finally, 100 million will be allocated to water reservoirs using energy storage.
With capital 1.6 billion euros the Hellenic Islands coalification fund for RES – interconnections and water
—