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State aid: Commission approves Greek scheme under Recovery and Resilience Facility to support development of electricity storage facilities

Under EU state aid rules the European Commission approved a Greek measure to support construction and operation storage facilities within the electricity system. After the positive assessment by the Commission of the Greek Recovery and Resilience plan and its adoption by Council, the measure will partly be funded by the Recovery and Resilience Facility. This measure is intended to allow seamless integration of a growing share of solar and wind energy into the Greek electricity grid. This scheme will help the EU achieve its strategic goals in relation to the EU Green Deal. The scheme will encourage the establishment of multiple electricity storage facilities with a combined capacity of up to 9000 MW that are connected to the high voltage network.

For a period of 10 years, the aid will consist of (i) an investment grant that will be paid during all phases of the project’s construction phase; and (ii), an annual support that will be paid during its operation phase. The Commission evaluated the measure in accordance with EU state aid rules. In particular Article 107(3)(c),of the Treaty on the Functioning of the European Union which allows EU countries to support the development of specific economic activities under certain conditions and the Guidelines on the State Aid for Climate, Environmental Protection and Energy 2022. The Commission approved the measure on this basis.

Margrethe Vestager (executive vice president), who is responsible for competition policy, stated: “Increasing electricity storage capacity in grids is key to make grids flexible and better prepared in the future when renewables form part of the decarbonised electric mix. We have approved the Greek aid measure today. It will partly be funded by the Recovery and resilience Facility. This will help Greece reach its emission reduction targets.

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