Sustainable Development Solutions Network - Greece Official launch of Sustainable Development Solutions Network - Greece Renewables: A Sustainable Development Solution. Dr. Ioannis Tsipouridis General Manager R.E.D. Pro Consultants Former Chairman of Board & C.E.O Hellenic Wind Energy Association Former CEO of P.P.C.R. Athens 7th September 2017

Contents. RENEWABLES: A LOGICAL AND SUSTAINABLE DEVELOPMENT SOLUTION THE GREEK RENEWABLES STORY THE CASE OF TURKEY THE KEY TO UNLOCK THE SOLUTION CONCLUSION

Contents. RENEWABLES: A LOGICAL AND SUSTAINABLE DEVELOPMENT SOLUTION THE GREEK RENEWABLES STORY THE CASE OF TURKEY THE KEY TO UNLOCK THE SOLUTION CONCLUSION

Hurricane Irma The US National Hurricane Centre has named it, the most powerful hurricane in the Atlantic basin ever recorded. Extreme weather events lead to humanitarian /social / property losses They are caused by climate change (not a Chinese hoax / humans are responsible) Climate change is caused by temp rise, which in turn is caused by the rise in CO2 emissions concentration in the atmosphere Fossil fuel use and generally the energy sector is responsible for (2/3) of CO2 emissions

The ONLY logical solution ENERGY TRANSITION TO CLEAN ENERGY IS IMPERATIVE 100 percent renewables is no longer merely an "aspirational goal. It is "the obvious solution."

Contents. RENEWABLES: A LOGICAL AND SUSTAINABLE DEVELOPMENT SOLUTION THE GREEK RENEWABLES STORY THE CASE OF TURKEY THE KEY TO UNLOCK THE SOLUTION CONCLUSION

THE GREEK renewables story History of Europe's wind industry

Greece’s RES targets according to EU Directive 28/2009 Overall target : 18% of share of energy generated from renewable sources in gross final energy consumption (20% unilaterally): Heating and cooling: 20% of heat consumption met by renewable sources; Electricity: 40% of electricity demand met by electricity generated from renewable energy sources; Transport: 10% of energy demand met by renewable energy sources. Share of renewable consumption to gross final energy consumption. Comprises of direct use of renewables (e.g. biofuels) plus energy produced from renewables (e.g. wind, hydro). Final energy consumption is the energy that households, industry, services, agriculture and the transport sector use. EU Member State 2006 2007 2008 2020 Target % To cover: Greece 7.2 % 8.1 % 7.9 % 18 % 10.1 % Germany 6.9 % 9 % 8.9 % 9.1 % Denmark 16.8 % 18.1 % 18.7 % 30 % 11.3 % Portugal 20.5 % 22.2 % 23 % 31 % 8 %

The economic crisis and its effect on RES development Special Case: The economic crisis and its effect on RES development Despite the severity of the financial crisis, which had a profound impact on investment in the country, the penetration of renewable energy sources accelerated during the years of economic contraction. RES attracted over EUR 7.6 billion of investment in Greece cumulatively over the period 2006-2013. Despite the crisis, investment in RES accelerated between 2008 and 2012 During 2010-2013, approximately EUR 6.3 billion were invested in renewable energy technologies in Greece, almost five times as high compared with the investments made during 2006-2009. PV & Wind absorbed the largest share (93% of total over the period 2006-2013 with EUR 5.4 billion for PV and EUR 1.7 billion for Wind).

RES grew at an average rate of 28% p.a. between 2006 and 2013.

The boom experienced in photovoltaic technology The higher return observed for PV during that period, driven by the sharp fall in PV panel prices, as well as the prospect of lower PV feed-in tariffs in the future, were the main reasons for the switch from wind to PV.

Greek PV market (source: HELAPCO)

A success story that went wrong The rise and fall in photovoltaic technology employment PV and job creation Employment Indirect employment Direct employment

The investment vacuum after the PV boom

2014 2020 The road map to the 2020 target (2014 - 2020) Technology Capacity (MW) 2014 2020 Small Hydro (<=15MW) 300 350 PV 1500 2200 CSP 120 250 Wind (inland and offshore) 4000 7500 Geothermal Biomass 200 Estimated investment in RES (2010-2020) = 16,5 b€

The road map to the 2020 target: Position end 2016 Where are we now?

2015 Res contribution to electricity consumption In 2015 the total share of RES in electricity consumption was: 26,78% including large Hydro While the 2020 target stands at 40% (L.3851/2010) The European statistics estimate this figure at 22,09% 2015 res participation in national electricity consumption   GWh share(%) Wind Parks 4.621,00 8,34% PV 3.406,00 6,14% Roof PV 494,00 0,89% Small hydro 708,00 1,28% Biomass/Biogas 222,00 0,40% Total RES w/o large hydro 9.451,00 17,05% Large Hydro 5.391,00 9,73% Total RES 14.842,00 26,78% National consumption 55.430,50 Sources: LAGHE ADMHE

The road map to the 2030 target? To the 2050 target? The projects are here: Licensing Progress of RES up to 31-12-2015 (in MW) Applications Production license Installation license Binding connection terms PPA Operating Wind 24.103 20.208 6.640 2.635 978 2.090 Biomass/gas 534 316 141 83 44 52 Small Hydro 1.079 620 182 80 24 265 PV 4.422 488 1.554 567 1.008 2.602 CSP 787 442 252 70 Total 30.925 22.074 8.769 3.435 2.054 5.009

The road map to the 2030 target? To the 2050 target? The investors are here: What is missing?

Contents. RENEWABLES: A LOGICAL AND SUSTAINABLE DEVELOPMENT SOLUTION THE GREEK RENEWABLES STORY THE CASE OF TURKEY THE KEY TO UNLOCK THE SOLUTION CONCLUSION

GLOBAL WIND ENERGY MARKET TOP 10 MARKETS IN 2016 AND TOP TEN CUMMULATIVELY UP TO 2016 Source GWEC April 2017

Comparison between Greece and Turkey

Contents. RENEWABLES: A LOGICAL AND SUSTAINABLE DEVELOPMENT SOLUTION THE GREEK RENEWABLES STORY THE CASE OF TURKEY THE KEY TO UNLOCK THE SOLUTION CONCLUSION

POLITICAL VISION AND LEADERSHIP The missing link. What are the ingredients for successful RES growth in any market? Availability of renewable energy sources Technical feasibility of deployment Knowhow Experienced Personnel National added value (Local source, security of supply), Potential for industrial activity Legislation Incentives (financial or corporate) Economic competitiveness and job creation Financing access But above all Political vision and leadership The missing link.

Contents. RENEWABLES: A LOGICAL AND SUSTAINABLE DEVELOPMENT SOLUTION THE GREEK RENEWABLES STORY THE CASE OF TURKEY THE KEY TO THE SOLUTION CONCLUSION

Keeping this in mind!

IEA admits the loss of the fossil fuel cost advantage ….. without yet internalising all external costs.

Last year 138,5 GW of renewable capacity were added globally compared to 127,5GW in 2015, ( IEA), Yet the investment was lower by 23% due to cost reduction. New renewable capacity added in 2016 was above 50% of total new capacity added. ΙΕΑ/GUARDIAN New Energy Finance (BNEF)

9,8 million jobs in renewables in 2016 Creating clean jobs.

But we still have a long way to go……

Turning to renewable sources is not the best solution. It is the ONLY solution!!