The Council of the European Union has amended its 2021 approval of Greece's recovery and resilience plan, introducing legally binding milestones and targets for renewable energy expansion, grid modernisation, and building renovations under the "Power Up" and "Renovate" components. The amendment, published on 27 July 2026, specifies deadlines from 2021 to 2026 that Greece must meet to unlock EU funds for its green transition.
The revised plan sets concrete requirements for Greece's energy sector. Under the "Power Up" component, Greece must have achieved 2 GW of new renewable energy capacity operational by Q2 2024, and by Q4 2025 complete the Cyclades Phase D interconnection, install 700 MW of storage systems, rehabilitate 8,102 hectares of former lignite mines, and finish HEDNO network upgrades covering 3,370 km of network and 14 substations. A further milestone requires Greece to transfer EUR 370.9 million to DES ADMIE for IPTO's EUR 1 billion capital increase by Q2 2026. Earlier deadlines include the entry into force of legislation for a new RES account, Guarantees of Origin trading system, simplified RES licensing, and a market monitoring mechanism by 30 June 2022, and the award of contracts for the Cyclades interconnection and storage systems by Q2 2023, with HEDNO network contracts awarded by Q4 2023.
The "Renovate" component targets energy efficiency improvements and addresses energy poverty. Greece was required to adopt an energy poverty action plan by 30 September 2021. Investments must achieve at least 30% primary energy savings in residential renovations, with incentives for vulnerable households.
The amendment formalises the milestones that were initially outlined in Greece's recovery and resilience plan approved in July 2021. The Council's implementing decision updates the assessment of the plan to reflect these specific, verifiable targets, which are conditions for disbursement of grants and loans under the Recovery and Resilience Facility.
Stakeholder impact The amendment imposes binding obligations on Greek authorities, who must ensure timely implementation to avoid delays in EU funding. Greek energy companies, including grid operator HEDNO and transmission system operator IPTO, will benefit from network upgrade contracts and capital injections but face tight deadlines for project delivery. Renewable energy developers gain regulatory clarity and a pipeline of storage and interconnection projects, though they must navigate the new licensing framework. Vulnerable households stand to benefit from renovation incentives and energy poverty measures, potentially lowering energy bills. EU taxpayers gain assurance that funds are tied to measurable outcomes, but the strict timeline may strain administrative capacity in Greece.
Institutional follow-up The European Commission will monitor Greece's progress against the milestones and targets. Disbursements under the Recovery and Resilience Facility are contingent on satisfactory fulfilment of these conditions. The Council's decision does not require further legislative steps at EU level, but Greece may need to adopt national implementing legislation to meet the deadlines.