The Greek Interministerial Committee, chaired by the Greek Minister of Development and Investment, has agreed to list a hybrid energy project as a strategic investment project in the country. The Greek Interministerial Committee consists of eight ministers and deputy ministers of the Greek government.

In this strategic hybrid energy project, a 200MW photovoltaic system is planned to be installed and will be developed and developed together with a lithium-ion battery energy storage system with an installed capacity of 100MW and a 50MW hydrogen electrolyzer capable of producing 16 tons of hydrogen per day. building. This is a strategic investment, which means it can take advantage of a fast permitting process and easy access to the grid. The energy storage capacity of the battery energy storage system in the project has not been announced to the public. The project, which has an investment of EUR 226.4 million, is expected to create 442 new jobs during the construction phase and 24 during operation. Bluesky300 IKE, the Greek subsidiary of British PV developer Hive Energy, will support the development of the project.

This is not the only green power project Hive Energy has built in Greece. The company's portfolio in Greece will also install 250MW of photovoltaic systems, which were listed as strategic investment projects by the Greek Interministerial Committee, however these projects have not yet been built.

strategic investment

So-called strategic investment projects are nothing new. Investors can apply to Enterprise Greece if they consider their projects to be of strategic importance to the country. Enterprise Greec is the official investment and trade promotion agency of Greece, operating under the auspices of the Greek Ministry of Foreign Affairs.

The agency then processes the investor's application. If its project meets the strategic investment criteria, it will be submitted to the Greek Interministerial Committee for approval. During this process, the investor is required to pay Enterprise Greece a fee for managing the application. And paying such fees is often worth it, as approved strategic projects may be eligible for government funding. What's more, strategic projects can expedite the permitting process at all stages of project development. Renewable energy projects listed as strategic investments will also be prioritized for grid connection, according to a new policy by the Greek Ministry of Energy and Environment.

The Greek government previously believed that strategic investment projects were necessary for the country to capitalize on capital investments in key sectors of the local economy. However, so far, the specific elements of the project strategy have not been fully defined. For example, Greek inter-ministerial committees often approve PV projects that do not incorporate any innovative elements. And its so-called strategic investments are not just energy projects. The development of hotel resort facilities in Mykonos, one of Greece's most famous tourist destinations, has recently been listed as a strategic investment by the Greek Interministerial Committee.Editor/XingWentao