New investment to upgrade thousands of kilometres of power distribution lines and increase use of smart meters essential for future expansion of renewable energy use in Greece will be supported by EUR 330 million of new financing from the European Investment Bank outlined at a formal. 2 GW of RES projects are operational, and the updated National Energy and Climate Plan (NECP) sets a target of 80% RES participation in gross electricity consumption by 2030. The rising cost of securing Greece's power grid against electricity theft and extreme weather events like wildfires has led to a significant increase in the five-year development plan (SAD) of the Hellenic Electricity Distribution Network Operator (DEDDE). In recent years Greece has undergone a series of privatizations for its low grid voltage operator (HEDNO), and its high voltage grid operator (IPTO). Foreign capital is enabling much needed upgrades of infrastructure which will be required to fully leverage renewables. Electricity plays a pivotal role in numerous aspects of contemporary life within modern societies, and its significance is expected to grow further as it assumes a more substantial role in transportation and heating, thanks to technologies like electric vehicles and heat pumps. The programme includes investments in MV and LV networks, smart meters and automation. Sources indicate that new decisions at an EU level to support grid upgrades may soon be coming, while in Greece, an energy bill is in the works at the Energy Ministry to address grid expansion and connection costs for RES projects.
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