Greece’s renewables share hits new monthly high of 54% in May

wind farms

The share of renewable energy sources in the Greek electricity production mix reached a new monthly high in May of 54%.

More specifically, data from the Independent Power Transmission Operator (IPTO) shows that in the previous month, solar and wind energy had a share of 48%, while lignite fell to just 5%. Including large hydro, the share of renewable energy sources reached 54%, marking a new monthly high.

It should be noted that for a total of 21 hours during May, renewables surpassed 90% of production, and for two consecutive days (May 6 and 7) they reached 100% for 7 hours of each day. Notably, at 13:00 on May 6, renewables produced 6,055 MWh.

The new record put Greece in the 7th spot globally regarding the share of renewables in production.

Renewables market overheating

Investor interest in Greek renewables has risen in recent years. During 2022 the country added around 1.3 GW of new solar installations, while licenses awarded by the Regulatory Authority for Energy (RAE) have reached 95 GW, of which only 14% have received operation permits.

Regarding energy storage, RAE has issued licenses for 205 projects with a total capacity of 15.82 GW.

The main roadblock to the completion of new projects is grid congestion. Both IPTO and the Hellenic Distribution Network Operator (HEDNO) have planned significant upgrades in this decade's remaining years. However, these projects take time to complete.

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