Greece’s Regulatory Authority for Energy (RAE) has introduced that the nation will conduct its third joint public sale for wind and photo voltaic photovoltaics tasks in May.
The renewable vitality public sale scheme is anticipated to proceed to considerably change the era mixture of the nation.
In 2018, the 12 months the public sale mechanism was launched, wind and photo voltaic PV collectively contributed round 28% to the era combine. The share is anticipated to be round 35% on the finish of 2020 and the rise could be attributed to the success of the renewable vitality public sale.
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The share of wind and photo voltaic development is in step with the nation phasing out coal-fired energy crops and striving to attain its goal to turn out to be carbon impartial by 2050, say analysts at analysis agency GlobalData.
Mohit Prasad, venture supervisor at GlobalData, feedback: “The renewable vitality public sale scheme has spurred the expansion of photo voltaic PV installations in Greece. According to GlobalData, on the finish of 2020, the expertise is anticipated to contribute 15% to the nation’s general vitality combine, which was 13% earlier than the introduction of the public sale scheme.
“The scheme is now anticipated to considerably change the era mixture of the nation, with a goal of a further 2.1GW of wind-solar public sale by 2024.
“As per GlobalData, the share of wind and photo voltaic collectively, which was round 24% till 2015, is estimated to develop to round 56% by finish of 2030. This is in step with the nation phasing out coal-fired energy crops and striving to attain its goal to turn out to be carbon impartial by 2050.”
Apart from the technology-specific auctions, the nation has been conducting joint auctions protecting wind and photo voltaic PV tasks since 2019.
Under the primary public sale held in April 2019, 86% of the awarded capability was for photo voltaic PV tasks. Furthermore, out of the seven tasks that received within the public sale, six – aggregating 377.78MW – have been of photo voltaic PV.
Not solely that, however photo voltaic PV secured the bulk share once more in April 2020, when the nation introduced the results of the second combined wind-solar tender. Out of a complete of 502.94MW, photo voltaic PV tasks value 350MW have been shortlisted, contributing 70% to the general awarded capability.
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Prasad continues: “Historically, the photo voltaic PV market in Greece was pushed by Feed-in-tariffs (FiT) – that scheme closed on 31 December 2015. Post-closure, the market was stagnated as an incentive scheme was not in place for large-scale photo voltaic PV installations.
“According to GlobaData, the nation witnessed 2,607MW photo voltaic PV set up till the top of 2015 and photo voltaic PV contributed 13% to the era combine.”
Until 2018, the nation’s photo voltaic PV set up was 2,668MW, with simply 61MW of photo voltaic PV installations being added over a interval of three years. In order to spur the expansion in photo voltaic PV installations, the nation launched the renewable vitality public sale scheme in July 2018.
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