The Future of Greek Renewables – Market Outlook Ahead of 2030 Targets

Synopsis

The adoption of the National Climate Law in May 2022 has provided Greece with a well-defined path for its energy transition. This legislation outlines ambitious goals to reduce greenhouse gas emissions, targeting a 55% reduction by 2030 and aiming for net zero emissions by 2050. Greece has already made remarkable progress in decreasing its reliance on lignite, or brown coal, for electricity generation, with the share dropping from 60% in 2005 to a mere 10% in 2021. To further align with the objectives of the Climate Law, Greece is committed to completely phasing out lignite-fired generation by 2028. These measures signify Greece’s dedication to combatting climate change and embracing cleaner energy alternatives.