The Greek Energy Regulatory Authority (RAE) has launched a tender for a 400 MW energy storage project and has three weeks to submit project proposals.
The regulator last week (June 16) published the rules and conditions for its first competitive bidding process for energy storage grants.
This is the first round of a government-led procurement program that will provide grants for projects ranging from 900 MW to 1 GW, with funding primarily coming from EU-wide initiatives focused on clean energy.
Greece is one of a handful of countries using the money to fund energy storage, along with Romania, Finland, Croatia, Estonia and, as reported last week, Slovenia.
Greece's overall storage deployment target is 3GW by 2030 to achieve a 70% renewable energy target.
Projects in this round will be eligible for funding of up to 200,000 euros ($218,000) per megawatt of installed capacity.
Although the specific technology was not specified, lithium-ion batteries are the current market standard for the vast majority of new energy storage projects. These include conditions such as a minimum round trip efficiency (RTE) of 80%.
This most likely means that technologies such as compressed air energy storage (CAES) will be excluded, as well as most flow battery technologies, which typically have a maximum of 80% RTE.
Projects must be submitted by July 10 (three weeks), with a shortlist of potential winners announced a month later on August 3. The final results will be announced a week later on August 10.
Winning projects need to come online by the end of 2025.
There will be two more tenders for 300 MW this year, and the next round will include any capacity not acquired in the current process. This means that the total capacity procured through the program is 1GW.
Recently, RAE approved a batch of battery storage projects totaling 600 megawatts as companies prepare to submit project proposals, Energy Storage News reports.
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