“Clean air for Crete. Greece bets on offshore wind “is the title of the article in the German Correspondents Network RND, which states that “the last lignite power plant will be decommissioned in 2028 and in 2030 two thirds of the electricity consumed will be produced from renewable sources. In fact, wind energy will play a special role.”
In more detail, the article notes: “A new energy era will soon dawn for Crete. Progress comes in the form of a thick electric cable through the sea. The 400 km long line will connect the largest island of Greece with Attica in the mainland. When the 995 million euro connection is made in 2023, the diesel power plants on the island will finally be able to close. The cable to Crete is part of an ambitious plan to connect the Greek islands to the mainland electricity grid. Of the 110 inhabited islands, so far only 50 are connected to the mainland via power cables. The project envisages the installation of submarine cables with a total length of 5,000 km.”
And a little below it is noted: “The shutdown of diesel power plants will not only reduce carbon dioxide emissions. The cost savings will be huge. The production of one megawatt hour of electricity on the mainland costs about 80 euros. In Antikythira it costs 1,297 euros and in Agathonisi 2,239 euros. “The connection of Crete to the network alone will save 400 million euros per year, according to estimates by the Ministry of Environment and Energy.”
Latest News
Winter Sales Season: Stores Open on Sunday in Greece
Most stores will operate between 11:00 AM and 6:00 PM, while shopping malls will stay open until later, from 11:00 AM to 8:00 PM
Greek Primary Surplus of €8.6bln at End of 2024
In previous budget execution reports, in October, a net amount of €3.241bln was collected from the new Concession Agreement for Attiki Odos
Fraport Greece Posts Record Numbers in 2024
In December 2024, the 14 airports posted impressive numbers in passenger traffic, welcoming a total of 805,056 visitors
Greek Economic Sentiment Steady in Dec 2024
The trade deficit amounted to 4.6 billion euros, up by 340 million euros from the same period last year.
UBS Positive Outlook on Greece, Sees Moody’s Upgrade
Moody's remains the only one of the three major credit rating agencies that still rates Greece at Ba1, one notch below investment grade
Revolut Launches Commission-Free ETF Investment Programs in Greece
According to a survey conducted by Dynata on behalf of Revolut in Greece, 44% of investors said that low and transparent fees are the most important factors when choosing an investment provider.
Greece Falls Far Behind EU Recycling Rate Targets
Greece joins a long list of EU countries that will miss 5 key 'green' targets in 2025, including municipal and packaging recycling rates.
Greece Votes on Bill to Boost Sustainable Tourism
The bill, introduced by Greece's Ministry of Tourism, aims to strengthen the country's position as a global tourism leader by advancing sustainable tourism practices.
HCMC: Approval of Prospectus for the IPO of new shares of Alter Ego
The Group includes the highest rated, in terms of viewership, television channel in Greece, Mega, as well as the emblematic news media “To Vima”, “Ta Nea” and “Oikonomikos Tachydromos”.
Greece to Tighten Golden Visa Requirements: Handelsblatt
In its analysis, the German media outlet said investments can no longer be split across multiple properties