Greece’s energy-storage market is gathering momentum as domestic utilities and international investors accelerate battery investments, seeking to capitalize on the country’s rapid expansion of renewable power generation.
Recent weeks have brought a series of project inaugurations, including Greece’s largest standalone battery facility, developed by METLEN and Karatzis Group in central Greece, alongside new installations by HELLENiQ Energy and French-backed FARIA Renewables.
Yet the surge in investment highlights a striking imbalance: Greece has just 800 megawatts of installed battery capacity, despite ranking sixth in Europe with a development pipeline of 27 gigawatts, according to industry association Eurelectric’s Power Barometer 2026.
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Regulatory data reveal an even larger pool of potential projects. Greece’s energy regulator has issued permits covering approximately 72 gigawatts of storage capacity across 1,714 projects, although only a fraction is expected to reach construction.
METLEN and Karatzis recently inaugurated a 330-megawatt, 790-megawatt-hour battery facility near Larissa. The installation will initially support METLEN’s aluminum operations, helping shield the energy-intensive business from electricity-price volatility.
HELLENiQ Energy has completed a 100-megawatt battery facility in Thessaloniki and is developing another 50-megawatt installation in northern Greece.
Public Power Corp., Greece’s largest electricity utility, has completed two battery projects totaling 98 megawatts and plans to install 800 megawatts by 2030. It is also pursuing pumped-hydropower storage projects.
Foreign investors are entering the market. U.S.-backed ContourGlobal acquired a 500-megawatt battery portfolio in January, while Egypt’s Elsewedy Electric recently energized a 50-megawatt facility near Athens. French and Spanish developers are also exploring opportunities.
Battery storage is increasingly essential as Greece expands solar and wind generation. Without sufficient storage, surplus renewable electricity can go unused during periods of weak demand, undermining project economics and complicating grid operations.
The challenge now is converting ambitious development pipelines into operating assets.
Developers face obstacles including limited grid-connection capacity, financing requirements and uncertainty over future investment returns.
The government is preparing connection-priority decisions for 4.7 gigawatts of storage projects, with applications totaling roughly 9 gigawatts having passed initial screening.
A separate support program covering 4.5 gigawatts of renewable projects paired with storage awaits European Commission approval, with initial auctions expected in 2027.
