The rapid pace of progress achieved in recent years with the support of the government, regarding the country’s energy transition and the high penetration of Renewable Energy Sources, as well as the new chapter opening for the electricity system with the introduction of storage technologies, ADMIE Vice President Ioannis Margaris noted in his remarks at the “Greece 2030, Economy and Development” conference.
He noted that from 2019 to the present, Greece has managed to triple its installed capacity of Renewable Energy Sources, from 6 GW to approximately 19 GW, an achievement for which, as he commented, “enormous efforts were required from the government.”
Referring to the benefits of green energy, he explained that RES already function as a “safety net” as they help keep wholesale electricity prices in check during periods of strain, with storage systems being the next critical area of the energy transition where the government is accelerating its efforts, in collaboration with ADMIE.
According to the relevant announcement, he added that the first storage units are already operational in Greece, with a target of 1.5 GW of installed capacity by 2027. Regarding the progress of battery integration into the power grid, Mr. Margaris emphasized that it is a process requiring particular attention from the Operator, who is responsible for the country’s safe power supply.
“Even with the first batteries now entering the system, we must be very careful to understand how they respond and how they operate in order to draw useful conclusions for future investment waves,” he noted.
He added that ADMIE is collaborating with the Ministry of Environment and Energy to develop new clean energy projects, noting that Greece is already ahead of its 2030 targets, while rapidly moving forward with the decarbonization of its power generation mix.
When asked about ADMIE’s capital increase, he described the government’s participation and the use of Recovery and Resilience Fund resources as a strong “vote of confidence.” “The European Commission recognizes that ADMIE is indeed capable of implementing major interconnection projects, which are at the core of the EU’s strategy,” he emphasized.
He went on to say that ADMIE has proven within a few years that it can upgrade and expand the country’s high-voltage networks, reaching an asset base of approximately €3.3 billion by 2025 and aiming to more than double it by 2030.
Regarding the interconnections being implemented or supported by ADMIE, the Vice President of the Operator made special mention of priority projects such as the interconnections with Cyprus, Israel, and Italy, which he described as “milestones” and which are expected to accelerate further with the capital increase.
“We are moving very quickly now in the northern Aegean and the Dodecanese,” he added, referring to the relevant tenders currently underway, while, as he said, bids for the second direct current interconnection between Corinth and Kos are also imminent.
He emphasized that these projects in Greece “we could not have imagined 10 years ago,” noting that as a country “we have managed to develop expertise, beyond the institutional capacity of the State, which continues to support them,” in terms of approvals, permits, and financing. “We are among the few countries in the world that have proven that when it comes to interconnections, mainly undersea ones, we are at the cutting edge of global technology,” he concluded.