Investments between € 23.3bn and € 30.2bn in thermal power plants, renewable and hydrocarbon exploration are expected to take place in Greece during the period 2016-2025, according to a study by the Institute of Energy of South-Eastern Europe (IENE).

Overall, investment in the 13 countries in the region under consideration (Western Balkans, Romania, Bulgaria, Greece, Cyprus and Turkey) is expected to reach 300 billion euros.

The study predicts that the demand for energy in Southeast Europe will quadruple by 2050 to 219 million tons of oil equivalent in 2050, from 59 tons in 2015.

In the electricity sector it is noted that the promotion of international interconnections between Italy, the Western Balkans and Greece is a priority for the integration of the electricity market in the region.

The study also states that countries are reluctant to stop coal / lignite power generation for security of supply and cost reasons, despite the EU’s environmental policy.