An Inter-ministerial committee of the Greek authorities final week labeled a photovoltaic venture, combining lithium batteries and an electrolyzer, a strategic funding that means it may benefit from quick licensing processes and quick access to the grid community.
Greece’s Inter-ministerial Committee, chaired by the Minister of Growth and Investments and attended by a number of different ministers throughout the cupboard, agreed on Thursday to grant a brand new hydrogen venture the so-called standing of a “strategic funding” for the nation.
Particularly, the committee comprising eight ministers and vice-ministers, labeled a 200 MW photovoltaic venture, set to be developed along with a cluster of lithium-ion batteries totaling 100 MW and a 50 MW electrolyzer able to producing 16 tons of hydrogen per day, as strategic. The MWh of the battery part was not launched.
The venture represents a €226.4 million ($224.4 million) funding and is predicted to generate 442 new jobs in the course of the building part and 24 jobs whereas in operation, mentioned the federal government press launch. Bluesky300 IKE, the Greek subsidiary agency of UK photo voltaic developer Hive Power, is backing it.
This isn’t the one inexperienced energy venture Hive Power is trying to construct in Greece. pv journal realized that the corporate has a minimum of 250 MW of further PV capability underneath its portfolio within the nation that has been labeled as a strategic funding by the identical authorities committee up to now. These tasks will not be but constructed, nevertheless.
Strategic investments
The so-called strategic funding tasks will not be new. Traders who imagine their tasks could also be of strategic significance to the nation could contact Enterprise Greece, a state company selling itself as “the official funding and commerce promotion company of the Greek State, working underneath the auspices of the Ministry of International Affairs.”
The company then processes the investor’s software. Ought to the venture fulfill the strategic funding standards, it will likely be dropped at the Inter-ministerial committee for approval. This course of requires traders to pay a payment to Enterprise Greece for administering an software.
Such a payment tends to be worthwhile as a result of authorised strategic tasks could also be eligible for state funding, though this isn’t at all times granted. Extra importantly, strategic tasks could benefit from quicker licensing processes throughout all levels of the venture’s improvement.
Based on a brand new coverage determination by the Ministry of Power and the Surroundings, renewable vitality tasks labeled as strategic investments can even be made a precedence for grid connection.
Prior Greek governments have argued that strategic funding tasks are needed for the nation to benefit from funding of capital in key areas of the native economic system. Nonetheless, no authorities has to date totally outlined what particular components make a venture strategic. For example, the Inter-ministerial committee has typically authorised photovoltaic tasks that don’t mix any progressive parts like hydrogen.
Strategic investments don’t solely concern vitality tasks. Final week, the identical Inter-ministerial committee labeled the event of a lodge resort facility in Mykonos, one among Greece’s most well-known vacationer locations, as strategic.
