Investing in Energy


Energy production from alternative sources (RES), as well as the reduction of the environmental footprint through energy transformation are strategic goals for Greece in the coming years and are in line with the country's commitments under the European Green Deal.

The geomorphological characteristics of the Region of Western Greece offer significant opportunities for energy production from renewable sources (RES). Today, about 11.2% of the country’s production stations, are located in RWG, while about 20% of the generated energy comes from RES. At the same time, RWG has significant shares in certain categories of RES, in comporison with the aggregate national production. More specifically, RWG has a share of:

  • 14.32% in solar energy production
  • share of 6.49% in wind energy production
  • 19.94% in hydroelectric energy production

According to the approved development plan of the Public Enterprise of Gas Distribution Networks (DEDA) for the years 2021-2024, the natural gas network in the Region of Western Greece is expected to be developed, with special emphasis on the network extension towardsthe industrial area and the Industrial Park (VIO.PA..) At the same time, according to the current planning of DEDA, the three major cities of the Region (Agrinio, Patras, Pyrgos) are expected to be connected to the natural gas network, ensuring access to cheaper energy for companies operating in the region, and therefore, increasing their competitiveness.

Finally, according to the Hellenic Hydrocarbon Management Company, 4 of the 13 total hydrocarbon exploration fields in Greece are located in the region of Western Greece. Two of them are found in terrestrial areas (Northwest Peloponnese, Aetolia-Acarnania) and two of them in aquatic areas(Katakolo, Gulf of Patras). Most of them are at the last stage of exploration, while Katakolo is the only region of Western Greece with proven oil / gas reserves.

According to KEPE*, the GDP multiplier for the sector amounts to 1.37, while the employment multiplier amounts to 3 (per million investments). Practically speaking, this meansthat for every € 1 million of investments, the regional GDP will increase by € 1.37 million and 3 jobs will be created.

 

*The Centre of Planning and Economic Research (KEPE)

 

Why investing in RWG?

Geomorphology and location: The natural herritageof the Region of Western Greece, as well as its important position at the southwestern tip of mainland Greece, are important advantages for the development of RES energy production in the Region.

Increasing trend in RES energy production: In recent years (2011-2018), the energy production from RES in the Region of Western Greece has increased significantly. The timing is therefore particularly favorable for future RES investments.

The advent of natural gas in the Region: In the coming years, the Public Enterprise of Gas Distribution Networks, networks will connect the Region of Western Greece with the national gas distribution network. The development and installation of these networks will result to significant investment  perspectives.

Important perspectives for hydrocarbons: In the area, one could find 4 out of the 13 (currently operating in Greece) fields of research for hydrocarbons.

FinancialTools: A variety of financial tools are expected to be utilized in the next programming period. In addition, the Recovery Fund and the European Green Deal are expected to further enhace the funding opportunities for green investments and energy transformation projects.


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