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2021-11-29 11:30:00

RENEWABLES FOR GREECE $2.5 BLN

RENEWABLES FOR GREECE $2.5 BLN

REUTERS - Nov 24  - The European Commission has approved a 2.27 billion euro ($2.54 billion) aid scheme proposed by Greece to boost renewable power generation, it said on Wednesday. 

The measure will help Greece meet its renewable energy targets, without unduly distorting competition, the executive arm of the European Union said.

The European Commission has approved a 2.27 billion euro ($2.54 billion) aid scheme proposed by Greece to boost renewable power generation, it said on Wednesday.

The measure will help Greece meet its renewable energy targets, without unduly distorting competition, the executive arm of the European Union said.

The new scheme that Greece has proposed to support 4.5 gigawatt of installed electricity capacity from onshore wind, photovoltaic, biomass, hydroelectric power and other renewable energy sources includes joint competitive tendering and direct awarding.

It is open until 2025 and can be paid out for a maximum of 20 years.

($1 = 0.8932 euros)

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Tags: RENEWABLE, GREECE, EUROPE