Athens energy storage hydropower station

Will Greece have a pumped Energy Storage regulatory framework?

Investors may be wary ahead of publication of an energy storage regulatory framework in Greece this summer. With a total installed capacity of 680 MW (production) and 730 MW (pumping), Athens-headquartered Terna Energy says the Amphilochia pumped storage project will be Greece’s largest grid connected energy storage investment.

What is hydro pumped storage complex in Amfilochia?

AMFILOCHIA PUMPED STORAGE The project “ Hydro Pumped Storage Complex in Amfilochia ” is the largest investment in energy storage in Greece. It is characterized as a Project of Common Interest, under the code name PCI 2.9, since October 2013 and a Strategic Investment, since 2014.

How much will Athens spend on energy storage?

pv magazine has determined Athens will devote €450 million of the €30.5 billion it expects to secure from the EU's post-Covid recovery and resilience facility, to energy storage. Of that €450 million, around €200 million will be channeled into battery facilities, via the planned 700 MW tender.

Will Amphilochia pumped hydroelectric energy storage project boost Greece's independence?

Developer Terna Energy claims the Amphilochia pumped hydroelectric energy storage project has entered the final stretch. If built, the large scale facility can boost Greece’s independence from fossil fuels and the government’s strategy for a coal-free electricity system by 2025.

How long can pumped-hydro batteries last in Greece?

While batteries could provide four-hour storage, Papathanasiou said, pumped-hydro could be used for periods of six hours-plus. Papathanasiou, who is drafting Greece’s energy storage policy framework, suggested the nation will need 1.5-1.75 GW of new capacity to meet 60% of its 2030 electricity needs from renewables.

Will a large scale energy storage facility boost Greece's independence?

If built, the large scale facility can boost Greece’s independence from fossil fuels and the government’s strategy for a coal-free electricity system by 2025. Investors may be wary ahead of publication of an energy storage regulatory framework in Greece this summer.