Indicative FSP

Renewable energy sources market: Framework and Risk Measurement

The Renewable Energy Sources (RES) market in Greece is expected to meet a substantial growth the following years, in order for the legally binding targets of 2020 to be fulfilled. Wind and solar energy are anticipated to be the leading technologies, taking advantage of the recently implemented legal framework, which aims to promote and accelerate their development. This study provides a comprehensive analysis of the Greek RES market, presents an overview of the relevant legislation and identifies and assesses all the risks associated with the implementation of a RES project. Analyzing the phases of such a project (permitting & business development, construction-financing-testing and operation-maintenance),the study presents the risk perspective of all the involved parties (competent authority, banks, investors).Although variations among the different groups exist, it is concluded that the most significant threats for a RES project derive from the problems that may be encountered in order to connect with the grid, the environmental impacts, the delays in the permitting procedure and the general administrative barriers, from a possible appeal to the Council of State, the difficulties to find the necessary funds for financing the project, as well as from a possible change in the legal framework

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