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Greece secures EU approval for € 1 billion energy resilience investment plan

aina246
13 minutes ago
1 min read
Greece EU Energy Resilience Plan

Greece has received European Commission approval to include energy resilience projects in its existing spending exemptions under EU fiscal rules, allowing nearly €1 billion in additional investments by 2028. The extension allows Greece to spend more on eligible energy projects without these costs counting towards EU spending limits.

 

Greece's energy resilience plan focuses on strengthening energy infrastructure, improving energy efficiency, supporting renewable energy and accelerating the transition away from fossil fuels. The planned investments include:

  • € 200 million for battery storage to support renewable energy.

  • € 200 million for heat pumps and solar water heaters.

  • € 117 million for energy upgrades in 109 public buildings and universities.

  • € 45 million is allocated to improving the energy efficiency of 246 schools.

 

The investment programme also include:

  • € 320 million for railway safety and expansion.

  • € 50 million for industrial carbon capture and storage.

  • € 20 million for bus charging stations.

  • € 50 million for energy upgrades benefiting 10,000 people in Western Macedonia and Megalopolis.

 

The extension builds on Greece's existing fiscal exemption by allowing eligible energy resilience investments to benefit from additional flexibility under EU fiscal rules. Rather than being subject to the standard limit on expenditure growth, qualifying investments can be excluded from this calculation.

 

The nearly € 1 billion represents the expected value of the additional investments, not direct EU funding. The projects will be financed through national resources, and the related expenditure will continue to count towards Greece's primary budget balance and public debt.

 

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