Greece Renewable Energy - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026-2031)

The greece renewable energy market size is expected to grow from 20.55 gigawatt in 2025 to 22.67 gigawatt in 2026 and is forecast to reach 36.97 gigawatt by 2031 at 10.29% CAGR over 2026-2031. This report is Segmented by Technology (Solar Energy, Wind Energy, Hydropower, Bioenergy, Geothermal, and Ocean Energy) and End-User (Utilities, Commercial and Industrial, and Residential). The Market Sizes and Forecasts are Provided in Terms of Installed Capacity (GW).

Greece Renewable Energy Market Trends and Insights

Accelerated Offshore Wind Legislation & 2 GW Target by 2030

Greece enacted a comprehensive offshore wind framework in June 2024, setting a 2 GW deployment goal for 2030 and introducing streamlined licensing for floating platforms located in waters deeper than 50 meters. Priority development zones in the Aegean and Ionian Seas record average wind speeds above 8 m/s, positioning floating technology for high utilization factors. International turbine suppliers quickly established Hellenic service hubs, enabling developers to sign grid connection agreements ahead of final investment decisions. The 2 GW target equates to nearly 6% of forecast capacity in 2030, yet its superior capacity factors promise outsized contributions to grid stability and export volumes.

EU-Funded Grid & Storage Upgrades Under REPowerEU/NECP

The European Commission allocated EUR 790 million in REPowerEU funding, and the European Investment Bank committed EUR 1.2 billion in loans to reinforce Greek transmission assets from 2024-2027. Projects include the Cyclades interconnection, which links seven islands to the mainland, and 400 kV substation upgrades in Western Macedonia. The National Energy and Climate Plan mandates 900 MW of new storage, split between pumped-hydro and lithium-ion batteries. Terna Energy’s 680 MW Amfilochia pumped-storage plant alone will supply 816 GWh of annual balancing energy, a critical buffer as thermal baseload retires.

Regional Permitting Bottlenecks Delaying Projects

Despite the availability of a digital one-stop licensing portal, environmental impact assessments, archaeological clearances, and grid studies still extend the average approval time to 18-24 months. Staffing constraints at RAE left 800 connection requests pending in 2024, discouraging smaller developers. Tourism-driven Cyclades islands add local consultation layers that often end in municipal rejection, redirecting capital to faster-moving Balkan markets.

Other drivers and restraints analyzed in the detailed report include:

• Rapid Decline in Utility-Scale Solar CAPEX
• Rise of Corporate PPAs from Greek Industrials & Data-Centers
• Grid Hosting Limits & Curtailment Risks

Segment Analysis

Solar accounted for 50.72% of the country's capacity in 2025, underscoring the Greek renewable energy market's reliance on photovoltaics. Geothermal capacity, currently under 0.90%, is forecast to scale at an 78.46% CAGR, increasing the segment's share of the Greek renewable energy market to approximately 2.85% by 2031. Mytilineos is drilling a 50 MW plant on Milos, supported by EU Innovation Fund grants that showcase enhanced geothermal systems. Wind, including nascent offshore projects, accounted for approximately 34.83% of installations in 2025, and floating platforms are expected to deliver capacity factors above 45%. Hydropower, at 12.05%, is expected to expand through the 680 MW Amfilochia pumped-storage complex, scheduled for commissioning in 2027. Bioenergy and ocean technologies remain niche due to barriers related to feedstock and cost.

New solar plants benefit from low installed costs and generous irradiation. However, competition for substation capacity is intensifying, prompting developers to shift toward hybrid solar-plus-storage projects that capitalize on higher peak pricing. Geothermal growth relies on successful exploration in the volcanic arc, where heat gradients reach 200°C at economically viable drilling depths. Should resource mapping confirm the presence of commercial reservoirs, geothermal energy could provide a baseload output that complements intermittent solar and wind energy, thereby smoothing the Greek renewable energy market share across technologies.

Complete Report Scope:

• By Technology
  • Solar Energy (PV and CSP)
  • Wind Energy (Onshore and Offshore)
  • Hydropower (Small, Large, PSH)
  • Bioenergy
  • Geothermal
  • Ocean Energy (Tidal and Wave)
• By End-User
  • Utilities
  • Commercial and Industrial
  • Residential

List of Companies Covered in this Report:

• Terna Energy SA
• PPC Renewables (Public Power Corp.)
• Mytilineos SA
• Enel Green Power Hellas
• Motor Oil Renewables (NRG)
• VSB Renewable Energy Hellas
• Eunice Energy Group
• RWE Renewables Hellas
• Iberdrola Renewables Hellas
• EDF Renewables Greece
• Lightsource bp Greece
• Juwi Hellas
• Siemens Gamesa Hellas
• Vestas Hellas
• Akuo Energy Greece
• GEK Terna
• Ellaktor - Anemos
• Kopelouzos Group
• METKA EGN
• ABO Wind Hellas

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support