Greece: New Legislation Will Boost Geothermal Energy Development - Report

Briefing - Geothermal Energy in Greece (Watson Farley & Williams)

(Courtesy CIA.gov)

This briefing focuses on the newly issued Law 4602/2019 that sets out the main principles for the exploration, exploitation and management of Greece's geothermal potential which constitutes an integral part of the National Energy and Climate Plan for 2030 submitted to the European Commission, and sets out the national strategy for the coming years.

The investment potential of geothermal energy is tremendous, especially as power generation from this source is still in its infancy. Big national players such as PPC Renewables already hold exclusive exploration, exploitation and management rights in specific target areas, and are in search of strategic partners that will assist them in building geothermal power plants, naturally after securing the consensus of local communities.

Greece clearly intends to take advantage of its geothermal fields, and promote its new Renewable Energy Sources (RES) sector. Modern technology and the stable legislative frameworks created favour investments in geothermal activities, and act as a tool to enable the transition of the country to clean energy.

Download the report.........