According to an analysis released by the Hellenic Association of Photovoltaic Companies (Helapco) in February, Greece added 1.59 gigawatts (GW) of photovoltaic installed capacity in 2023, setting an annual record and contributing 74% of the new energy added that year. Currently, Greece’s national photovoltaic installed capacity stands at 7.1 GW, meeting 18.4% of the country’s electricity demand, with photovoltaic power generation playing a crucial role in the rapid development of Greece’s new energy power system. The promotion of photovoltaic projects in Greece has also received assistance from the European Union. In April 2024, the EU approved the provision of 1 billion euros in national aid to Greece to support solar power projects with a cumulative capacity of 813 megawatts (MW), as well as associated energy storage facilities.

These funds will be allocated to two projects: The Faethon project will construct two photovoltaic power plants, each with a capacity of 252 MW, along with integrated molten salt energy storage systems and a high-voltage substation. The project aims to provide peak-shaving auxiliary services. The Seli project will build a 309 MW photovoltaic power plant and a lithium-ion battery energy storage system, designed to optimize power generation and ensure grid stability.trina solar panels