BMI View: Despite favourable climatic conditions for the development of renewable energy, the Greek non-hydro renewables industry will remain at a virtual standstill over the coming decade. The growth will be stalled by an unstable regulatory environment, poor project financing conditions and the country's persisting economic and political challenges.
|e/f = BMI estimate/foreacst. Source: National Sources, BMI|
|Generation, Non-Hydropower Renewables, TWh||9.189||9.252||9.297||9.336||9.393||9.425||9.459|
|Generation, Non-Hydropower Renewables, % y-o-y||1.154||0.676||0.490||0.419||0.610||0.347||0.354|
|Capacity, Non-Hydroelectric Renewables, MW||3,875.7||3,889.3||3,904.8||3,917.8||3,945.0||3,957.4||3,969.6|
|Capacity, Non-Hydroelectric Renewables, % y-o-y||-16.0||0.4||0.4||0.3||0.7||0.3||0.3|
Latest Updates and Structural Trends
This quarter we have kept our pessimistic forecast for Greece's non-hydro renewables industry. Over the coming decade, we expect the industry to average 0.3% and 0.4% annual growth rates in terms of non-hydro renewables capacity and generation respectively.
In order to rein in persisting Renewable Energy Sources (RES) deficits, in April 2016 the Greek Environment and Energy Ministry has proposed essential changes to the RES special account system, which would include a revamp of its revenue-raising mechanisms. The draft proposals are currently being coordinated with the European Commission (EC) and could reach the Greek parliament in early summer 2016.
The Environment and Energy Ministry plans to stage two pilot tenders for an installation of PV facilities with a total capacity of 50MW. According to Energypress.eu, the tenders are expected to be launched in June 2016.
In February 2016 Mihalis Veriopoulos, who is in charge of Energy and Mineral Resources division at the Greek Environment and Energy Ministry, revealed government plans to add 2.5GW of new renewables capacity by 2020.
The Greece Renewables Report researched at source contains BMI Research's assessment of the current renewables market in Greece. The report also contains historical data together with forecasts to end-2018 covering electricity generation (TWh) and electricity capacity (MW).
The renewables sectors covered in the report include Wind, Solar, Geothermal, Tidal and Wave, and Biomass (See Table of Contents for exact coverage). The report also features details on government green energy agendas and funding opportunities, as well as presenting a detailed list of key renewables projects currently being planned or undertaken in Greece, their capacity, the timeframe of construction and their current status.
The report discusses the various energy policies currently in force, including targets, subsidies and the relevant infrastructure developments or limitations which might impact on renewables growth, analysing the potential effects of regulatory changes in conjunction with the background macroeconomic outlook. Finally, there is a general overview of the competitive landscape in Greece, together with a detailed summary of the main utilities and manufacturers present and their business operations.
BMI's Greece Renewables Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with unique independent forecasts and competitive intelligence on the Greece renewables industry.
- Benchmark BMI's independent renewables industry forecasts for Greece to test other views - a key input for successful budgeting and planning in the renewables market.
- Target business opportunities and risks in the Greece renewables sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in the country.
BMI Industry View
Summary of BMI's key industry forecasts, views and trend analysis covering the renewables market in Greece, regulatory changes, major investments and projects and significant multinational and national company developments.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the renewables sector and within the broader political, economic and business environment.
BMI Industry Forecasts
Historic data series (2010-2012) and forecasts to end-2018 for electricity generation (TWh) and electricity generating capacity (MW) for each individual renewables sector present in the country.
These in turn are broken down into:
Electricity Generation: Overall capacity (TWh), growth % change year-on-year, KWh per capita, % of Total Non-Hydropower renewables generation, % of total electricity generation.
Electricity Capacity: Overall capacity (MW), growth % change year-on-year, % of non-hydroelectric renewables capacity and % of total capacity.
These forecasts are in turn supported by explicit assumptions, in conjunction with analysis of the key risks to the main forecast.
Business Environment Rankings
BMI's Renewables Business Environment Rankings provide fully comparable Risk-Reward Rankings aimed at investors in the regional renewables market.
The rankings methodology makes sophisticated use of various industry, economic and demographic data point.