January 5 (Renewables Now) - The European Commission (EC) has supported the Greek government’s plans for an auction-based scheme for renewables and high-efficiency cogeneration.
In a press release on Thursday, the EC said that the scheme has been deemed compliant with the EU state aid regulations and will be instrumental in helping the country reach its 2020 climate goals. Greece has set a target of producing 18% of its energy from renewables by 2020.
As part of the initiative, Greece will hold regular, competitive auctions for renewables that in 2018 will include separate tenders for wind and solar power. Next year, the country will conduct joint auctions for solar and wind power facilities.
"Greece will bring down costs for renewable energy with competitive auctions to support renewable electricity generation,” said Margrethe Vestager, Commissioner in charge of competition policy. On the other hand, support for other renewable energy technologies “will be subject to auctions as soon as they become more mature in the Greek electricity market”.
Greece will evaluate the bidding processes in 2020, before designing bidding processes for the period 2021-2025, the EC noted.