On Wednesday 14 October 2026, Greece inaugurated its largest standalone battery energy storage system (BESS) and one of the largest in Europe, located in Larissa, Thessaly. The project has a power capacity of 330MW and a storage capacity of 790MWh, giving it roughly 2.4 hours of duration.

The asset was developed through a strategic partnership and joint investment structure between METLEN and the Karatzis group. METLEN is responsible for construction, operation and maintenance. The inauguration was attended by Greek Prime Minister Kyriakos Mitsotakis, underlining the political weight the government attaches to storage as a pillar of its energy transition.

Recovery and Resilience Facility money behind the build-out

At the ceremony, Mitsotakis said the energy storage sector has received overall support financed through the Recovery and Resilience Facility (RRF), and that €200 million continues to be allocated for similar storage projects. He noted that over half of Greece's electricity is now produced from renewable sources, that the country has reached a condition of surplus in electricity production, and that storage, grids and interconnections are essential to turning that surplus into usable, exportable power.

The Larissa project therefore sits at the centre of a wider Greek strategy: build enough flexibility to absorb a renewables-heavy generation mix, avoid curtailment, and use interconnections to move power to neighbouring markets. For EU policymakers, it is also a showcase of how RRF funding has been converted into physical storage assets in a member state.

Gas exploration announcement adds a second dimension

During the same speech, Mitsotakis announced that Greece is proceeding towards its first exploratory drilling campaign for natural gas in several decades, planned in the Ionian Sea in the second quarter of 2027. He also stated that investments and support for Greek industry are a national priority.

The combination is notable: a government simultaneously scaling up battery storage, retaining €200 million of support for further projects, and reopening domestic gas exploration. For investors in Greek storage, the signal is that flexibility capacity is now treated as strategic infrastructure rather than an optional add-on, with public funding still available for projects that can reach construction quickly.

Source: Punto Grecia

This article was assisted by AI analysis. Please refer to the original source for official information.