Greece is accelerating the coal phase out to diversify its energy resources

Mondo Finance Updated on 2024-02-18

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*: China Power News Network.

In recent years, Greece has vigorously promoted the green transformation of energy-intensive industries, accelerated the research and development, application and promotion of advanced technologies for energy conservation and carbon reduction, established a green, low-carbon and circular development economic system, and reached a record high in renewable energy production. In August 2023, Greece's electricity generation reached 22.5 billion kWh, the highest monthly record in the history of the country's power system. According to data from Greece's independent transmission operators, wind, solar and hydroelectric power already covered 57% of the country's energy mix in 2023, exceeding 2.5 billion kWh, compared to 50 in 202212%。

In December 2019, the European Commission launched the European Green Deal, setting a goal for Europe to become the first "climate-neutral" continent by 2050 to combat climate change and environmental degradation. Greece followed in the EU's footsteps by passing its first National Climate Law in May 2022, which stipulates a reduction in greenhouse gas emissions by at least 55% by 2030 and 80% by 2040, with a goal of carbon neutrality by 2050.

Over the past 10 years, Greece's renewable energy generation has grown by 147%, from 86.4 billion kWh, an increase to 21 in 20233.5 billion kWh, the first time that the annual renewable energy generation exceeded 1500 million kWh. On the demand side, the share of renewable energy in total demand has increased by 151% over the past decade, reaching more than 43% in 2023, the highest level on record.

According to independent transmission operators in Greece, solar, wind and hydro power have largely replaced lignite production. Over the past 10 years, the share of lignite in the energy mix has continued to decline, from 54 in 201459% gradually decreased to 32 in 201897%。With the implementation of the "coal phase-out" plan, the proportion of lignite has declined rapidly since 2019, reaching 1096%, reaching 101%, which is the lowest in history. During 2022 alone, the share of lignite rose to 1182%。According to the newly revised lignite phase-out plan of the Greek Public Electricity Company, lignite is expected to be completely phased out by 2026.

The share of natural gas power generation in the Greek electricity system has been on an upward trend over the past 10 years, reaching 43 in 2020A peak of 19%, almost three times that of 2010, fell to 42 in 202184%, which fell to 37 in 2022 due to the energy crisis99%, which is currently stable at around 32%.

Commenting on this set of data, Greek Minister of Environment and Energy Theodoros Skalakis said that "further tapping the potential of renewable energy is the most strategic choice, which will make a great contribution to Greece's low electricity prices, green transition and energy security".

In addition, Greece may have an important role to play in improving Europe's energy security. In the long run, Greece's large-scale gas and power infrastructure projects under development could provide the EU with large oil and gas resources, which could help Europe reduce its dependence on imported energy and help Europe diversify its energy resources.

Chinese companies in Greece have been actively participating in the energy transition and green development of Greece. As a model project of mutually beneficial and win-win cooperation between China and Greece, the Port of Piraeus has always adhered to the concept of green development, and in the process of modernizing and upgrading it, Chinese enterprises are committed to reducing the environmental impact of the project, ensuring the health and safety of employees, and contributing to the well-being of the local community. By installing a photovoltaic power generation system, Piraeus Port reduced greenhouse gas emissions by 11%, and in 2020 it was awarded the title of "European Green Port" and obtained the European Ecoport Environmental Standard (PERS) certification.

Since its establishment in Greece in 2018, China Energy Group has always been committed to promoting the transformation of Greece's energy supply to a green and clean environment, setting a model of mutually beneficial and win-win friendly cooperation between China and Greece. After the completion of the Thrace wind power project in 2020, the national energy group Guohua Investment European New Energy Company has produced about 6 percent of green electricity3.2 billion kWh, which meets the electricity needs of 30,000 households in Greece, is equivalent to a reduction of about 63% of carbon dioxide emissions010,000 tons, saving 25 standard coal530,000 tons.

China and Greece are also deepening cooperation in the field of new energy vehicles. In October 2023, the Greek Ministry of Infrastructure and Transport signed a contract with China Yutong Bus for the supply of 250 new electric buses, which will be operational in Athens and Thessaloniki by the end of April this year. In 2023, SAIC MG MG successfully landed in the Greek market and achieved good results, and BYD also started a long-term cooperation with the Greek side. Recently, Chinese automaker Cialis officially launched its high-end electric model Seres 5 in Athens, marking the first time that a Chinese electric SUV has entered the Greek market, providing Greek consumers with more choices. (Liu Zhiyu).

Editor in charge: Gao Huijun.

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