Geopolitical, economic and energy benefits for our country are brought about by the implementation of the proposals for upgrading the trans-European energy networks submitted by Prime Minister Mr. Kyriakos Mitsotakis at the EU Summit.

At the heart of the proposal is the strengthening of interconnections on the North-South axis in order to make the most of the potential of renewable energy sources in the EU, specifically the high wind potential of the North and the corresponding advantage of the South in solar energy.

The Greek government has already submitted a proposal for direct electrical interconnection of Greece with Austria and Southern Germany by cable through Albania and western Balkans. As the Minister of Environment and Energy Kostas Skrekas had pointed out, in Southern Germany there is a need for green energy and the proposal foresees an initial transmission capacity of 3 GW with the possibility of increasing it to 9 GW afterwards.

Greece also gathers two additional comparative advantages in the sector: as the Director General of the Hellenic Wind Energy Scientific Association Panagiotis Papastamatiou pointed out at the Power & Gas Forum last week, Greece has a richer wind potential than its neighboring countries, which are more likely to support their energy transition more towards energy from the sun. “From this point of view, wind power – which is produced 24 hours a day – is a comparative advantage for Greece, since it can make it an exporter of green electricity during the non-lunch hours when the wider region will demand energy.

In this context, the role of development and the appropriate mix of A.P.E. in our country, they should be considered as part of the wider regional and European planning”, said Mr. Papastamatiou.

The second advantage of our country is linked to the prospect of emerging as an energy bridge with North Africa if the plans for the development of energy interconnections with Egypt proceed to the stage of implementation. An important milestone in this direction is the new updated list of projects of European interest (Projects of Common Interest, PCI) which is expected to be published by the European Commission next November.

The conclusions of the Summit state, among other things: “The European Council calls on the co-legislators to quickly reach an agreement on all relevant proposals to accelerate the green transition and to continue without delay the work on the proposed revision of the design of the internal electricity market of the EU, with the aim of being adopted by the end of 2023”.