Prime Minister Kyriakos Mitsotakis presented a programme at the Thessaloniki International Fair. The plan targets a reduction of final electricity prices by about 30% by 2029. It is set at a total envelope of €5 billion and is designed around batteries, grid interconnections, energy efficiency and distributed generation.
Funding sources and allocation for the programme
Funding is expected to include about €2.3 billion from the Islands Decarbonisation Fund. An additional €600 million is expected through the EU fiscal escape clause, alongside resources from the Social Climate Fund. Storage investment is described as a central element of the strategy.
Greece is targeting 3-4 GW of batteries by 2028 and 5-7 GW by 2030. Around €400 million has already been allocated via the Recovery and Resilience Facility, with another €200 million planned from the Social Climate Fund. The extra funding is expected to be divided among small businesses, municipalities, large renewable projects and standalone storage.
Batteries, interconnections and renewable-plus-storage capacity
The programme also includes support for island interconnections, with around €1.1 billion earmarked for that component. A further €970 million is planned for renewable-plus-storage projects comprising about 316 MW of solar and 295 MW of batteries. The plan also sets aside €200 million for dams and dual-purpose reservoirs.
A separate allocation of €56 million is earmarked for electric-vehicle charging within the broader package. The programme is introduced as Greek solar capacity has reached 13.8 GW, which is cited as above the country’s 2030 target in the report. The increase is described as adding pressure on the system to absorb surplus midday generation.
Energy efficiency and changes to self-consumption rules
Energy-efficiency measures are expected to receive about €2.1 billion. The support includes residential renovation, 32,000 heat pumps, and 68,000 solar water heaters. The government also plans to simplify self-consumption rules across multiple configurations.
The simplification includes collective schemes for apartment buildings, micro-solar systems of up to 800 watts, and standalone batteries that do not inject electricity into the grid.
