On 21 November 2024, Maroš Šefčovič, Executive Vice-President for the European Green Deal, signed with Greece and the European Investment Bank (EIB) an agreement on the implementation of a national Decabornisation Fund for the Greek Islands. The agreement was co-signed by Theodoros Skylakis, Greek Minister of Environment and Energy, and Ioannis Tsakiris, EIB Vice-President. The Fund will be financed through the EU Emission Trading System (ETS) for an estimated amount of 2 billion euros. Such support is meant to decarbonise Greek Islands' energy supply, notably by developing renewable energy systems, island grid interconnections, power and charging infrastructures, as well as dams and reservoirs for hydroelectric production. Greece’s project proposal for the Fund is to be evaluated by the EIB and the full reform to be completed by 2026.
