Greece has unveiled a revised energy and climate plan, aiming for a more ambitious target of 82% renewable energy share in electricity generation by 2030, up from 66% in its previous 2019 plan. The updated strategy will be submitted to the European Commission for approval and outlines Greece's contribution to the EU's overarching goal of reducing greenhouse gas emissions by at least 55% by 2030.
The Mediterranean nation, benefiting from abundant sunlight, has more than doubled its renewable energy output since 2014 through the installation of new solar and wind power plants while phasing out most coal-fired plants. “As we speak, the country has overshot its targets for the penetration of renewables as well as for cutting greenhouse emissions,” said Greek Energy and Environment Minister Theodore Skylakakis at a press conference announcing the plan.
However, Skylakakis acknowledged that the revised plan does not adequately address the challenges posed by ongoing climate change. “The prevailing opinion is that we will be able to prevent the climate crisis before it occurs… but the climate crisis is already here, with huge economic and fiscal implications,” he stated. He highlighted the extreme weather conditions in Greece, noting, “We're in October, and this weekend we will have 34 degrees Celsius (93 degrees Fahrenheit) – which means that we have already entered the climate crisis.”
Greece, still recovering from the financial turmoil that nearly led to its exit from the eurozone in 2015, has faced devastating floods and wildfires exacerbated by rising summer temperatures. The country is struggling to finance repairs and enhance its infrastructure to withstand extreme heat.
Under the new plan, Athens estimates that it will require an additional investment of €95 billion ($103.97 billion) by 2030. This investment will support policies aimed at improving energy efficiency in thousands of buildings, expanding solar and wind capacity, and developing energy storage solutions. The total expenditure is projected to reach around €330 billion by 2050.
These measures are expected to help Greece achieve a greenhouse gas emissions reduction of 58.6% by 2030, compared to the 43% reduction outlined in the 2019 plan, as it progresses toward climate neutrality by 2050.
