Manousakis (IPTO): Accelerating the use of renewable sources for the strategic autonomy of the EU

The request to accelerate the use of renewable sources, alongside the greenish vigor transition, was highlighted by the Chairman and CEO of IPTO, Manos Manousakis, astatine the Delphi Economic Forum ΧΙ.

As helium explained, fixed that Europe lacks the fossil vigor resources available to regions such arsenic the Middle East and the US, it is successful its strategic involvement to leverage its abundant renewable imaginable successful bid to execute vigor self-sufficiency and strategic autonomy. He stressed that IPTO contributes to Greece’s vigor autonomy done the improvement of the energy system and the timely transportation of caller renewable vigor units. He further noted that each organization stakeholders — the State, system operators and the regulatory authorization — indispensable work intensively to accelerate the deployment of vigor storage.

“As storage capableness expands, we will spot wholesale energy prices decline, arsenic has already been demonstrated successful caller periods by the accrued information of renewables successful the vigor mix,” helium remarked. He added, however, that earthy state will stay intelligibly indispensable during the transition period, and that gas-fired powerfulness procreation indispensable stay economically viable.

Asked astir the advancement of the operator’s concern programme, Manousakis noted that large land interconnection projects person already been completed, including those successful the bluish Cyclades and Crete, while the electrification of the remaining islands is expected to travel successful the coming months. He added that caller investments will travel to integrate the Dodecanese and the North Aegean islands into the mainland grid, arsenic well arsenic the improvement of a 2nd interconnection with Italy, GRITA 2.

Beyond biology benefits, helium described the economical gains of interconnections arsenic highly significant, while besides underlining their strategic value successful terms of nationalist sovereignty. On task financing, helium emphasized the captious publication of the European Investment Bank, arsenic well arsenic EU funds that person supported the implementation of large energy infrastructure projects crossed the country.

A cardinal operator of the planned investments is besides the 1.0-billion-euro stock superior summation by existing shareholders, a process presently underway and progressing astatine a accelerated pace. The caput of IPTO stressed that the government’s determination to enactment constitutes a strong vote of assurance successful the company. He concluded that the nonsubjective of the operator’s main shareholder, the Greek State, is for the superior summation to beryllium completed by June.