Multi-billion-euro investments in energy and its storage
Leaders in energy businesses underlined on Friday the strong prospects Greece has as an energy leader in the greater region, and provided more insights into what that entailed in terms of requirements, at the Delphi Economic Forum.
Greece will need 22 billion euros in investments for renewable energy sources (RES) and networks to 2030, something the banking sector thinks is feasible, Piraeus Bank Chief of Corporate and Investment Banking Theodore Tzouros said.
As he pointed out, banks have already funded the sector with €8-10 billion in the past seven years, despite those years “not being the best” in terms of the economy.
Of the €22 billion, he said RES expected investments are estimated at €15 billion and those of networks at €7 billion.
Energy storage needs to be developed as well, Independent Power Transmission Operator (ADMIE) Chairman and CEO Manos Manousakis underlined, in order to prevent breaks in the supply of green energy and to open up new corridors to transport electricity.
The energy from Cyprus, Israel and North Africa to Greece should be transported to Central Europe through vertical corridors from south to north, he added, and ADMIE is working with the European Commission on that.
