"Greece has prioritised development of its abundant renewable energy resources and as a result of a supportive policy environment, renewable sources today play a key role in the electricity sector. Building on this success, it is important for Greece to explore its renewable resources beyond solar and wind and to advance their usage in the nonelectricity sectors. In this report, we look at the ongoing reforms to the support schemes for renewable energy and additional initiatives that Greece could put in place to further accelerate the shift towards renewable energy sources, including on the Greek islands, without compromising electricity security."
International Energy Agency - Greece 2017 Review
International Energy Agency - Greece 2017 Review
There are some many improvements Greece could undertake in its energy mix that such effort could entail a good 50% of the new effort towards development and GDP growth that the poor coutry so desperately needs.
ReplyDeleteGreece, if it wanted to and its oligarchy structure allowed, could easily attract 50-100 Bil. euros of FDI in the energy sector.
Dean.
So Greece could attract EUR 50-100 billion FDI to improve her energy mix, let's look closer at that.
ReplyDeleteInstalled capacity at the mainland Greek grid is roughly 16000 MW. At a first cost of EUR 50 million per 100 MW generation capacity, your EUR 50 billion would by Greece new capacity of 100000 MW. That would allow for a remarkable redundancy factor of 7,4 hardly a factor that would attract investors.
Lennard.
In addition to the internals of the Greek energy market which need desperate improvements/upgrades most energy projects in Greece are pass-throughs to Italy and other neighboring countries.
DeleteSo, it's not about total capacity but rather a conversion of energy production using other than fossil fuels which make Greece very vulnerable to import flactuations.
Dean.
Lennard:
DeleteIt's not about electricity production. It's about imported fule is is roghly twice the EU average:
https://energypedia.info/wiki/Greece_Energy_Situation
Dean.
Lennard:
DeleteSorry about the typos. This is what happens when you are on your exercise bike and try to type.
So the energy problem of Greece is the large quantities of imported oil and not its electricity production.
So the 50-100 Bil. FDI is needed to transform the energy landscape and eliminate the heavy oil dependency of Greece.
Dean.