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Despite poor renewables record, Greece now has big solar energy plan

Red tape and addiction to cheap, polluting coal has turned Greece into a renewables laggard, even though it is one of the sunniest and most windy countries in Europe.

PPC plans renewables renaissance, giant solar park | Reuters, By Harry Papachristou ATHENS | Fri Oct 22, 2010 Greek utility PPC plans a sevenfold increase in its clean energy production over the next five years and is thinking of building one of the world’s largest solar parks, the head of its renewables unit said on Friday.

Cash-strapped Greece uses state-controlled PPC as a spearhead to meet its ambitious climate change target of green energy accounting for 40 percent of total electricity production by 2020, up from 4 percent currently.

PPC Renewables plans to invest about 2 billion euros ($2.78 billion) to increase its capacity from about 160 megawatts at the end of this year to 1,200 megawatts in 2015, Chief Executive Officer Ioannis Tsipouridis said in an interview…..

Failure to boost renewables would cost PPC 1.3 billion euros in extra carbon costs a year after 2013, when the free allocation of carbon emission rights ends. PPC Renewables plans to run 713 MW of wind farms and 245 MW of solar parks by 2015, according to company plans.

The company is seeking partners to help fund more than 600 MW of these projects, including a large 200 MW solar park in northwest Greece……

Red tape and addiction to cheap, polluting coal has turned Greece into a renewables laggard, even though it is one of the sunniest and most windy countries in Europe.

PPC plans renewables renaissance, giant solar park | Reuters

October 22, 2010 - Posted by | EUROPE, renewable | , , , , ,

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