Greece has set even more ambitious renewable energy targets under a revised national energy and climate plan unveiled on Friday, aiming to increase the share of renewables in electricity generation to 82% by 2030, up from the 66% target set in its 2019 plan. This update, part of Greece's ongoing efforts to meet EU climate goals, marks a significant leap toward reducing the country's carbon footprint and cutting greenhouse gas emissions by 58.6% by the end of the decade.
This revised plan aligns with the European Union’s broader objective of reducing greenhouse gas emissions by at least 55% by 2030. As part of this initiative, Greece's new roadmap emphasizes expanding solar and wind power generation, making buildings more energy-efficient, and increasing energy storage capacity.
Over the past decade, Greece has significantly ramped up its renewable energy capacity, more than doubling its output from solar and wind energy since 2014. The country has also phased out the majority of its coal-fired power plants. Despite these gains, Greece is grappling with the impact of climate change, which has already led to extreme weather conditions, including devastating wildfires and floods.
Energy and Environment Minister Theodore Skylakakis presented the revised plan at a press conference, acknowledging that while Greece had exceeded its 2019 renewable energy targets, the nation is already experiencing the effects of the climate crisis. “The prevailing opinion is that we will be able to prevent the climate crisis before it occurs... but the climate crisis is already here, with huge economic and fiscal implications,” Skylakakis said. He emphasized that Greece's struggle is no longer just about prevention, but adaptation.
Under the new plan, Athens estimates that an additional €95 billion ($103.97 billion) in investment will be required by 2030 to finance the transition to renewable energy, energy-efficient buildings, and enhanced infrastructure. These investments are crucial for Greece to achieve its goal of cutting greenhouse gas emissions by 58.6% by 2030, surpassing the 43% reduction set in its 2019 plan. Total investments for climate neutrality by 2050 are expected to reach around €330 billion.
However, the cost of adapting to the ongoing climate crisis is already straining Greece’s economy, still recovering from the financial turbulence of the past decade. The country faces the daunting challenge of repairing infrastructure damaged by floods and wildfires while making it more resilient to rising temperatures.
