Terna Energy in Greece is seeking regulatory clearance to go ahead with 3 floating solar power plants with a combined capacity of 265 MW. Part of GEK Terna Group the business conglomerate with interests in infrastructure, clean energy and real estate in particular, Terna Energy has submitted applications to secure producer certificates for the 3 projects with the country's Regulatory Authority of Energy (RAE).
It plans to develop this 265 MW capacity on 3 artificial reservoirs, and expects their construction to cost an investment of over €170 million ($207 million). One of the 3 projects with 120 MW is has been proposed for the artificial reservoir of Kastraki, 103 MW for the Pournari Reservoir and 42 MW for Army Reservoir.
Terna Energy says this investment is part of the group's strategy to invest in the production and storage of clean energy including wind farms and pumped storage technologies. Implementation of the 265 MW will increase its existing target for total installed capacity in the next 5 years to over 3 GW, from 2.8 GW.
According to the RAE, it had received 1,864 applications to secure project licenses for a whopping 45.55 GW renewables capacity with solar PV technology accounting for 79.8% of the total during its 1st electronic application round for renewable energy licenses in December 2020. It is currently in the process of evaluating the applications and basis its findings, it will issue producer certificates (see PPC Renewables Picks METKA EGN For 200 MW Project).
Independent Commodity Intelligence Services (ICIS) shared that PPC Renewables has also applied for a 50 MW floating PV project with the RAE, and apart from these 2 companies, 2 other Greek firms are expected to apply for at least 500 MW in floating PV projects in 2021. It also added that legal experts are of the view that the government will need to introduce specific legislation for the new technology. ICIS expects to double wind and solar power capacity to 15 GW in 2030, from 6.9 GW in 2020.