Greece is among the top three renewable energy (RES) markets, ranking third in EY’s relative index which examines the performance of countries adjusted according to the size of their GDP.

EY’s semi-annual index, Renewable Energy Country Attractiveness Index (RECAI), assesses the world’s top 40 economies and ranks them in terms of the attractiveness of renewable energy investment opportunities.

It is recalled that, in the previous version of RECAI, Greece ranked first in the GDP-adjusted index – position in which Denmark is today, with Morocco following in second place and our country “closing” the top three of the adjusted index. At the same time, Greece remains among the first 20 countries in the general ranking (which does not take into account the size of the GDP), namely in 18th place.

The report accompanying the RECAI index notes that Greece has shown significant progress towards the goals set for 2030 and 2050. The country’s installed RES capacity recently exceeded 11 GW, while 1.7 GW of green hydrogen electrolyte projects are planned.

Commenting on the report’s findings, Tasos Iosifidis, Partner, Head of EY Greece’s Corporate Strategy and Transactions Advisory Department, and Head of the Energy & Utilities Sector, said: “Greece’s consistent presence among the most attractive markets for investments in RES, confirms the country’s potential to achieve the ambitious goals for the green transition of our economy. Greece is among the leading countries in the world in the participation of RES in electricity production. The exploitation of the country’s offshore wind potential, the upgrading of the network and the investments in energy storage, can give a new impetus to the penetration of RES in the energy mix, with multiplier benefits for the economy, the trade balance and the protection of the environment”.