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The Greek government said last week that Greece would spend 5 billion euros to deal with the impact
of abandoning coal for power by 2028 and cutting carbon emissions by 2050 to meet EU climate goals.
Greek Energy Minister Kostis Hatzidakis said the funding will include state funding, funding from the European Union and loans from the European Investment Bank specifically for infrastructure projects, subsidies for new businesses and training to help port cities in western Macedonia and the southern Peloponnese switch to green energy, agriculture and tourism
.
These regions are Greece's main suppliers
of electricity from cheap lignite resources for more than half a century.
Greece's Conservative government, which took office last year, has pledged to reduce its carbon footprint
by shutting down 80 percent of coal capacity at state-owned utility Power Power Corp.
by 2023.
Hatzidakis also said about 16 private investments are being made in renewable energy and other activities that are expected to help create more than 8,000 jobs
in the aforementioned regions.
At the same time, Greece will also consider tax incentives for new businesses in affected areas to support local communities
.
Investments include PPC's plan to build a solar power plant in western Macedonia with a capacity of 2.
3 GW, and PetroGreece's €130 million solar project
in the region.
PPC has now closed two coal-fired units in Macedonia with a total installed capacity of 550 MW and will shut down the remaining 10 coal-fired units
by 2023.
Another power plant it is building in Ptolemaida in northern Greece will operate from coal until 2028, after which it will switch to a different fuel
.
The Greek government said last week that Greece would spend 5 billion euros to deal with the impact
of abandoning coal for power by 2028 and cutting carbon emissions by 2050 to meet EU climate goals.
Greek Energy Minister Kostis Hatzidakis said the funding will include state funding, funding from the European Union and loans from the European Investment Bank specifically for infrastructure projects, subsidies for new businesses and training to help port cities in western Macedonia and the southern Peloponnese switch to green energy, agriculture and tourism
.
These regions are Greece's main suppliers
of electricity from cheap lignite resources for more than half a century.
Greece's Conservative government, which took office last year, has pledged to reduce its carbon footprint
by shutting down 80 percent of coal capacity at state-owned utility Power Power Corp.
by 2023.
Hatzidakis also said about 16 private investments are being made in renewable energy and other activities that are expected to help create more than 8,000 jobs
in the aforementioned regions.
At the same time, Greece will also consider tax incentives for new businesses in affected areas to support local communities
.
Investments include PPC's plan to build a solar power plant in western Macedonia with a capacity of 2.
3 GW, and PetroGreece's €130 million solar project
in the region.
PPC has now closed two coal-fired units in Macedonia with a total installed capacity of 550 MW and will shut down the remaining 10 coal-fired units
by 2023.
Another power plant it is building in Ptolemaida in northern Greece will operate from coal until 2028, after which it will switch to a different fuel
.
