The Greek government has approved four investments into new renewable energy projects totalling 2.8 GW of wind and solar power capacity.
More than €2 billion will be spent on the four investment projects, including €888.1 million on the installation of 1.5 GW of solar photovoltaic (PV) parks across 12 regions of Central and Northern Greece, and a further €421.6 million on 37 PV plants with a total capacity of 830MW in Larissa, Magnesia and Kilkis.
The remaining investment will go towards one offshore wind development with 360MW, and a 120.3MW onshore wind project in Xanthi and Rodopi.
Greece’s state-owned Public Power Corporation has been tasked with developing the solar parks as part of a wider €5 billion roadmap to support the phase-out of coal generation by 2028.
The four projects will also create more than 300 jobs.
Greek Development and Investment Minister Adonis Georgiadis commented that the approval of the investments to fund the country’s solar expansion “continues uninterrupted” despite the economic disruption brought on by the COVID-19 pandemic.
The funding was given the green light by Georgiadis, Finance Minister Christos Staikouras, Minister of Environment and Energy Kostis Hatzidakis, Culture and Sport Minister Lina Mendonis, Agricultural Minister Makis Vorides and Secretary General of private investments Orestis Kavalakis, during a virtual meeting last week.
On his part, the Deputy Minister for Development and Investment, Nikos Papathanasis, said that investing in solar projects is “imperative” to creating jobs and also helps to rebound from the global pandemic.
"We adopt strategic investments and create a dynamic business environment,” he said.