1. The Seli Project will have 309MW of solar PV capacity with a lithium-ion battery energy storage system to optimize electricity generation and grid stability.
2. The construction of both the Seli Project and the other project is targeted to be completed by mid-2025, but the storage capacity and output were not disclosed by the European Commission.
3. Financial aid for these projects will be provided through a contract for difference over a 20-year period, with the strike price determined by a technical committee based on market price averages and risk assessments.
The Seli Project will have 309MW of solar PV capacity and an integrated lithium-ion battery energy storage system to optimize electricity generation and grid stability. The storage capacity and output were not disclosed by the EC, with construction expected to be completed by mid-2025. Financial aid for both projects will be provided through a two-way contract for difference over a 20-year period, with the strike price determined by a technical committee based on various factors.
If the reference price is lower than the strike price, beneficiaries will receive payments for the difference, while they will have to pay the difference to Greek authorities if the reference price is higher. The RAE of Greece is conducting an EU-backed solicitation for energy storage, with 300MW from 11 projects being shortlisted from 1.5GW of bids. Greece aims to have 8GW of storage by 2030, with concerns raised about the low prices of winning bids and their potential to deliver good financial returns. The full version of the story can be found on PV Tech, with additional reporting by Andy Colthorpe for Energy-Storage.news.