EU approves Greek auction scheme for renewable electricity production

Date: 2018-01-05   Author: Saipriya Iyer  Category: #industry

EU approves Greek auction scheme for renewable electricity production

In what seems to be another spectacular scoop in Europe’s renewable energy cosmos, the Greek auction scheme has recently received the European Commission approval to produce electricity from high-efficiency cogeneration and renewable energy sources. While the country’s contribution toward global renewable energy industry is not unheard of, the fact that the scheme has received a green signal from the European Commission is certainly a news to reckon with. Being in line with the European Union state aid rules, the Greek auction scheme would help the economy to proceed with its energy and climate goals, while maintaining the competition, cite experts.

Reportedly, under the scheme, Greece would organize regular, competitive auctions on a recurring basis to extend a hand of support to renewable energy sources. As claimed by the European Commission, this year, the country would organize separate auctions for solar and wind installations, just to analyze the market potential. In 2019, there would be joint auctions for solar and wind installations, with an ultimate aim to reduce renewable energy cost for the Greece populace and increase the competition.

As for other renewable energy sources, experts believe, the state support would be subject to auction, immediately after it observes a considerable level of penetration in the Greek electricity market. Following the approval, Greece will have an accountability of the bidding process in 2020, before any further bidding.

The European Commission, allegedly, has evaluated the Greek auction scheme under EU State aid rules, particularly under the 2014 guidelines on State Aid for Environmental Protection and Energy. These guidelines necessitate the requirement of competitive auctions for the support of renewable energy source, since 2017. The Greek auction scheme’s periodic organizing of events would boost the share of renewable energy based power generation in the country, affirms the Commission.  Most importantly, with these competitive auctions, Greece is planning to bring down the renewable energy cost, which, in a way, would help the country reach the 2020 climate goals, claim experts.



About Author


Saipriya Iyer linkdin-boxtwitter

Saipriya Iyer

Saipriya Iyer currently works as a content developer for AlgosOnline. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her belt, she has dabbled with website...

Read More

Post Recommendents

Cardiac Resynchronization Therapy (CRT) Devices Market to 2026 - Growth Trends and Revenue Statistics

Author: Rahul Varpe

A highly analytical qualitative as well as quantitative evaluation of the Cardiac Resynchronization Therapy (CRT) Devices Market has been covered in this report. The study evaluates the myriad aspects of this industry by taking into consideration ...


Medical Products Market Growth Rate, Revenue and Demand Analysis to 2026

Author: Rahul Varpe

An extremely definite evaluation of the Medical Products Market in terms of qualitative as well as quantitative analysis has been covered in this report. The myriad aspects of this industry, having considered its historical and forecast data have ...


Intensive Care Beds Market - Geography Insights and Opportunity Analysis to 2026

Author: Rahul Varpe

The latest study provides an in-depth analysis of the Intensive Care Beds Market focusing on various market definitions, segmentations, sub-segmentations, products, as well as applications. The report further details of the competitive landscape &...