Description

TABLE OF CONTENTS

Executive summary (2)

New regulations and initiatives discussed this month (5)

Americas (5)

United States (5)

Colombia (5)

Asia (5)

China (5)

Europe (5)

Great Britain (5)

Project updates and announcements (7)

Overview of the 2021 market for utility-scale energy storage projects (7)

Projects announced or contracted this month (7)

Asia (7)

Projects commissioned this month (9)

Europe (9)

Americas (9)

Tenders this month (10)

Asia (10)

Oceania (10)

Americas (10)

Africa (11)

Focus of the month: Greece, a key storage market ? (13)

1. Greek electricity context (13)

a. The Greek electricity mix 13

b. The goals set by the NECP 14

c. BESS projects announced, in construction and commissioned (15)

d. The Greek electricity market (17)

e. The National Recovery and Resilience plan of investing 450 million euros to support the installation of 1,380 MW of storage systems to enhance RES penetration (18)

f. the opportunity set by the 700 MW battery storage tender (19)

2. Revenue streams available in Mainland Greece for energy storage systems (19)

a. Ancillary services (19)

b. Transmission system congestion management (23)

c. Interruptibility services (23)

d. Wholesale day-ahead and intraday electricity market prices (25)

TABLE OF FIGURES

Figure 1: Utility-scale energy storage projects announced/contracted and commissioned in 2020 and 2021 (ongoing)    (7)

Figure 2: Net electricity generation in Greece in 2020 (source: National Energy Climate Plan) (13)

Figure 3: Major actors of the electricity supply chain (13)

Figure 4 : Lignite-fired plant capacity shutdown timeframe (sources: National Energy Climate Plan, Government of April 5th, 2021, Second issue No. 1323) (14)

Figure 5: Evolution of the installed Wind and PV Capacity from 2020 to 2030 (15)

Figure 6: Storage Capacity licensed by RAE (source : RAE Geoportal - https://geo.rae.gr/) (16)

Figure 7: Greek Markets Timeline (17)

Figure 8: Greek Markets Timeline (17)

Figure 9: Balancing Market Mechanism   (18)

Figure 10 :Required Static Response for the FCR (20)

Figure 11: Mean capacity provided by source in June 2020   (21)

Figure 12: mFRR Daily price spread and 30-day price spread moving average   (22)

Figure 13: Activated Balancing Energy Up and Average mFRR price per hour (22)

Figure 14 :Activated Balancing Energy Down and Mean mFRR price per hour (23)

Figure 16: Average daily price spread (25)

TABLE OF TABLES

Table 1: Interruptible Load Service Type and Characteristics in 2020  (source : admie website) (24)

Table 2: Interruptible Load Service Auction's clearing results for Type 2 (Source: ADMIE) (24)