Greece is steadily transforming into a regional hub for green energy

The Greek Prime Minister Kyriakos Mitsotakis during his speech at the United Nations Conference on Climate Change COP26 held in Glasgow, unveiled that his cabinet prepared and launched a climate law that comprises a bunch of initiatives to tackle climate change.

According to the new law there have been set quantitative targets for reducing greenhouse gas emissions by 55% till 2030 compared to 1990, by 80 % in 2040, with the ultimate goal of climate neutrality in 2050, which is also provided by the European Community legislation. The targets will be reviewed every five years depending on the evolution of pollutants and Community regulations.

In particular the Greek PM highlighted 6 initiatives, starting from shipping

1. The Greek-owned commercial fleet is a maritime superpower, accounting for 20% of the global fleet. We are taking the lead in proposing solutions for the decarbonisation of maritime transport.

2. Moving to tourism, the climate crisis poses a big threat to Mediterranean tourist destinations. Our pioneering GR-eco strategy will eliminate more than 10 million tons of CO2, by gradually turning our islands into 100% green and sustainable autonomous destinations.

3. In renewables, beyond the traditional wind and solar, we aim to be leaders in offshore wind production, with an installed base of 2 GW by 2030. We also want to be innovators in pumped-storage hydroelectricity, taking advantage of the country’s unique geomorphology.

4. As far as phasing-out coal is concerned, we are transitioning to low-carbon electrification at a faster pace than many European countries. Greece will be lignite-free at the latest by 2028, while all old lignite units will be phased out by 2023.

5. As far as ecosystems are concerned, we are taking regulatory action to protect marine biodiversity. We aim to declare 10% of our seas as no-catch zones by 2030. And we are introducing a flagship project that we call “Untrodden Mountains” with the aim to protect our mountains’ natural habitat.

6. Finally, interconnections. Greece is steadily transforming itself into a regional hub for green energy. Our recent agreement with Egypt for a new electricity interconnection is a case in point. Greece is also the logical entry point for green hydrogen produced in the Middle East and in Northern Africa into the European market.