Renewable energy

Development Minister Kostas Skrekas said on Tuesday at the Athens Investment Forum that the aim is the maintenance of sustainable growth rates, adding that "we cannot however rely only on tourism."

Skrekas underlined that the government's strategic plan is to turn the country into an energy and technology hub.

The rapid development of renewable energy sources and the strong interest in energy transition projects are driving the Greek electrical system to its limits, technically and economically, at surprising speed.

Net energy from renewables and large hydroelectrics in the first eight months of 2023 reached an all-time high of 16,683 gigawatt-hours, according to data from Greece's transmission system operator, ADMIE, processed by The Green Tank.

NOVI SAD - Development of industry and electric vehicles is the path to carrying out a green transition in Serbia, Serbian Minister of Mining and Energy Dubravka Djedovic Handanovic said on Thursday.

The European Bank for Reconstruction and Development (EBRD) is providing a long-term loan of 22 million euros to Kervan Gıda, the leading exporter of jelly sweets in Türkiye.

The funds will be used to finance capital expenditure investments to increase the capacity of the company's jelly and licorice production lines, install solar panels and improve its wastewater treatment methods.

Greece's power transmission operator ADMIE is promoting a green electricity connection with Central European countries that will transmit electric power produced from renewable energy sources in Greece, Egypt and Israel to EU countries to the north.

Helleniq Renewables, a wholly owned subsidiary of Helleniq Energy, has announced the acquisition of solar parks with a total capacity of 180 megawatts from the UK's Lightsource near Kozani, in northern Greece.

Helleniq Renewables plans to expand its renewable energy capacity from the current 356 MW to 1 GW by 2025, and over 2 GW by 2030.

Around $10 billion has been invested in solar power over the past year triggered by a new regulation, Mustafa Yılmaz, head of the Energy Market Regulatory Authority (EPDK) has said.

After riding a fossil-fuel boom for decades, Gulf Arab states are eyeing "green" hydrogen as they try to transition their economies and ease the climate crisis at a stroke.

Oil producers Saudi Arabia, the United Arab Emirates and Oman are investing heavily in the climate-friendly fuel in a search for alternative revenues to crude and gas.

Helleniq Renewables has succeeded in obtaining investment subsidies for three energy storage facilities in its Thessaloniki facilities, with a total power of 100 MW.

The facilities will be connected to the national power grid and their operation licenses are for 25 years.

Investment in the three facilities will be subsidized to the tune of €200,000 per MW.