Amid an unprecedented energy crisis and the significant geopolitical turmoil that Europe is experiencing today, the decarbonization of the energy mix is the only way forward for Greece and the European Union. The effects of the crisis we are experiencing are already visible, bringing unbearable price appreciations and painful consequences for households, industries, and growth prospects, leaving no room for complacency. For this reason, the transition process to domestic renewable energy sources must be accelerated. In this landscape, our country can take advantage of its comparative advantages. With sun and wind in abundance, Greece has the potential to become energy independent and chart its own path in the use of RES, setting an example for all of Europe. Enel Green Power, adhering to the UN's sustainable development goals, facilitates the smooth energy transition of businesses to a net-zero economy by utilizing RES. At the same time, it offers reliable, competitive, tailor-made energy solutions from RES, helping companies to exploit business opportunities and draw financial resources from European funds. The availability of RES and their price are not affected by geopolitical tensions or other external factors, and their inclusion in the energy mix is becoming more frequent. In addition, thanks to the reduction in the cost of technology and the increased demand due to decarbonization, in the next 10 years, 70% of new installed capacity will come exclusively from wind and solar farms, while, by 2050, 50% of electricity will be produced from wind and solar energy. Enel Green Power, in its 14 year-operation in Greece, possesses the know-how for the construction of new RES projects, as it has a leading role in the production of wind energy, with an installed capacity in the country of a total of 368.2 MW. An example of such a project is the Kafirea wind facility in Evia. With investments in RES of more than 2.5GW in the coming years, we prove our commitment to the transition of cleaner energy forms aiming at complete decarbonization. Our vision Enel Green Power, a world leader in the renewable energy industry, invests in the sustainable development of local societies and economies while respecting the environment. Dedicated to its commitment to creating shared value with local communities, our Company promotes innovative partnerships, cultivating relationships of trust and honest dialogue with the residents of the areas where it operates, supporting their transition to cleaner forms of energy. Paving the way for a “cleaner” and “greener” future. Sustainable development with targeted "green" initiatives Enel Green Power implements, throughout Greece, actions for the sustainable development of local communities, aiming to create shared value. Individual actions across the country range from extensive reforestation and developing alternative forms of tourism to modern educational programs and support for local producers. The flagship of our Company's social "green" initiatives is the educational program "Vamvakies a Social Green Project", which is an initiative of Enel Green Power and Wise Greece, in collaboration with the Bioeconomy & Environment Cluster of Western Macedonia (CLuBE) and the Municipality of Kozani. The Vamvakies photovoltaic park, with a total power of 6.5MW, is located near Polymylos Kozani. During this program, a group of women living in the wider area cultivated aromatic plants within a photovoltaic park for the first time in Greece. The group was equipped with all the necessary tools and received training on farming practices, certification processes and essential entrepreneurship tools. At the same time, free seminars are held, addressed not only to women but to every resident of the area. The goal is that, after completing the courses, the trainees will have all the necessary knowledge to create a sustainable business with their own agricultural products, contributing to changing the production model of Western Macedonia. New photovoltaic park in Kozani of total budget 55 million euros Western Macedonia is a key priority of Enel Green Power's investment plan. Our Company plans to construct a new photovoltaic project in Mavrodendri, Kozani, an investment approaching 55 million euros. The project, which is expected to start operating in the summer of 2023, will use double-sided panels and upon its completion, our Company's total installed capacity in the Kozani region will reach 108 MW. In total, our Company develops a portfolio of 1.7 GW in Greece, which includes wind, photovoltaic and RES projects combined with batteries and stand-alone batteries. Thus, we support Greece in achieving its environmental goals and leading the "green" transition and sustainable development effort. Sustainable energy through "green" PPAs Enel Green Power organizes informative meetings and information events to raise businesses' awareness about the solutions offered by RES. The purpose of these informative events is to create channels of communication between the executives of Enel Green Power from Greece as well as from abroad and the executives of major domestic industrial consumers of electricity, in order to inform and raise awareness of the businesses about the solutions RES can offer over time. Through green PPAs (i.e. bilateral electricity supply contracts between RES producers and end consumers), companies gain access to the possibilities offered by green sustainable energy while consumers and producers benefit from its advantages. The aim is for the green PPAs to adapt to the needs of the Greek market together with the necessary changes in the regulatory framework. In that way, they will be a sustainable solution for a stable framework of electricity prices and a stable environment for developing new electricity generation plants from RES, while contributing to the reduction of the carbon footprint of industries. Also, establishing the possibility of storing energy from RES will contribute decisively to the containment of prices for the benefit of consumers. Improving grid utilization and generation profile through hybridization How adequate and stable will the grid be when using only RES? Businesses do not need to worry when they use energy from RES. In fact, they benefit from it, as units combining different RES technologies and grid-absorbable storage contribute significantly to grid stability and adequacy. Enel Green Power leads the hybridization initiatives for RES projects which will work for the benefit of Greek businesses. Hybridization, i.e., the combination of different RES technologies, is an essential solution for achieving a safe and stable integration of RES into the energy mix, increasing the system's reliability. Through hybridization, the use of the grid is optimized as the utilization factor increases, the “thoughtfulness” of RES decreases, and, as a result, the projects become controllable and easily distributed. The investment cost of hybridization is low since both technologies use the same infrastructure. The cost of balancing electricity and the cost of the end consumer is also reduced since the combination of technologies allows for improved control and adjustment of energy injection on the network. Therefore, businesses enjoy multiple benefits with the use of RES, which is widely appreciated while the time passes, and their use expands. Amid the energy crisis that Greece and Europe are experiencing, producing energy from RES is the only way forward for businesses. Enel Green Power, with its know-how, innovation, extensive experience through its presence in various markets around the world, and the scientific and technological training of its people, has the reliability and internationally recognized prestige, proving that RES can be a vital component of the country's energy mix, ensuring sustainable development and a smooth energy transition for local communities and businesses. With 54GW of installed capacity across a mix of wind, solar, geothermal power and hydropower, Enel Green Power is a pioneer in integrating innovative technologies into renewable energy projects while constantly investing in breakthrough projects that change the country's energy landscape in the coming years.
