Islands Decarbonisation Fund: Spearheading Renewable Energy Initiatives in Greece

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ANA reported that Prime Minister Kyriakos Mitsotakis will attend the signing of an agreement for the establishment of the Islands Decarbonisation Fund on May 27 on the Greek island of Naxos.

Mitsotakis recently announced the creation of this fund during the 9th "Our Ocean Conference" in Athens. It will be funded by revenues generated from the European Emissions Trading System. Depending on the prices of international carbon emission rights, the fund could reach up to 2 billion euros. Its primary focus will be financing projects aimed at interconnecting the islands, developing energy storage solutions, promoting renewable energy sources, and supporting the construction of versatile water tanks.

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