Investments of 30 billion and 38,000 new jobs in RES and building upgrades by 2030

Huge investments of 30 billion euros by 2030 on an annual basis and 38,000 new jobs is foreseen by the updated National Plan for Energy and Climate (ESEK).

Among the aforementioned investment costs are also included those for the energy upgrade of homes and other buildings. Their amount is approximately 700 million euros per year.

The Minister of Environment and Energy Kostas Skrekas presented the main goals of ESEK during a press conference, announcing that the new text will be submitted to a public consultation.

With the new ESEK, the goal of a total reduction of gaseous pollutant emissions by 47% in 2030 is set.

The text also places great emphasis on the development of RES, hydrogen and energy storage systems.

In particular, the goals set until 2030 are:

1. The increase in the participation of RES in final consumption to 45% from 35%.

2. The 6% improvement in energy efficiency.

3. The increase of RES participation in electricity generation to 80% from 61% in 2019.

4. The increase in the participation of RES in heating and cooling in 2030 to 47% when the target was 43% with the current ESEK

5. RES participation in transport increases to 32% from 19%

6. Increases the participation of synthetic fuels to 3.4% from 0% today.

7. Advanced biofuels (agricultural residues and cooking oils) will rise in 2030 to 2.18% from 1.7%

8. And conventional biofuels will reach 1.7%.

9. 100% electrification of passenger vehicles in 2030.

RES

The targets for increasing electricity generation from RES are also particularly ambitious.

In particular, in 2030 compared to 2022, it is foreseen for both RES and other power generation technologies:

1. The increase in installed solar capacity to 14.1 GW from 5 GW today. In 2050 they will reach 34 GW

2. Offshore wind farms are expected to reach 2.7 GW in 2030 and 17 GW in 2050

3. Onshore wind farms from 5 GW will increase to 7 GW in 2030 and 10 GW in 2050.

4. Hydro will increase to 4 GW from 2.3 GW today

5. Natural gas plants will increase to 7 GW from 5 GW today

Overall in 2030 total installed power generation capacity will rise to 36 GW from 21 GW