Contribution to De Gaulle Fleurance OBSERVATORY 2023
(by Mira Todorovic Symeonides, Partner & Panagiota Maragkozoglou, Associate)
With these Observatories, De Gaulle Fleurance shares its expertise and feeds the public debate on issues as important as ecological and societal transitions. These are key transitions for the companies we support, and they help us move towards a world that is more respectful of people and the environment.
Are there any State support mechanisms?
The development of RES-PPAs legal framework in Greece is still under development although certain number of corporate PPAs have been signed during the last two years.
Greece has adopted the National Recovery and Resilience Plan 2.0 approved by Ecofin by virtue of its Executive Decision no. 10152/06.07.2021 and in accordance with
EU Regulation 2021/241. The Recovery and Resilience Fund which was founded in Greece by virtue of Law 4822/2021, aims at both the lending as well as the funding of
projects among which Renewable Energy Sources (RES) projects and PPAs operating on the basis of the loan agreement and the funding agreement concluded between
Greece and the European Commission. The logic is that the money from the Fund is de- posited in the Bank of Greece and it is directly available to the operators of the eligible investments, but the banks are applying strict standards for eligibility, therefore firms should prepare detailed and thorough investment plans. The Fund has already provided funding for PPAs, e.g. the investment with respect to the construction of five photovoltaic projects of a capacity of 200 MW in West Macedonia by RWE and PPC through their common company METON ENERGY
which in turn has signed PPAs of 10 or 15 years with third parties.
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