Thursday , June 8 2023
Home / Mixed Grill / environment / Greece will need €50billion in investments to adapt energy policy against climate change

Greece will need €50billion in investments to adapt energy policy against climate change

Investments worth 50 billion euros will be required until 2030 for Greece to adapt its energy policy to new data created by the global climate change and its impact, said National Bank of Greece Chief Executive Officer Pavlos Mylonas, at the 5th Southeast Europe Energy Forum held in Thessaloniki on Friday.

These funds will be directed to the fields of Renewable Energy Sources, and to the distribution, efficiency and storage of electricity, he noted. However, RESs will take some time to develop, he underlined, therefore natural gas will be the fuel used in a transitional period of at least the next 10 years.

So far Greece is “ahead of developments,” he said and he described as ambitious the goals set by the Greek government.

Energy storage should increase from 10% today to 20% in 2025 and 70% in 2050, he added.  “Think about what we need to do to achieve this goal,” he pointed out.

The Southeast Europe Energy Forum is organized in cooperation with the American-Hellenic Chamber of Commerce, the US Embassy in Greece and the Atlantic Council. [amna]

Check Also

Tourists turn their back to Mykonos and Santorini due to exorbitant prices

Tourists are turning their back on Greece’s most famous destinations, the islands of Mykonos and …