The following paper presents the process of decarbonization of the energy sector in Greece and points out to different methods the Greek authorities are adopting in order to reduce the emission of greenhouse gases generated by electricity production. Greece is a country which is modernizing its energy sector gradually, yet dynamically. One of the prime aims is to reduce the level of energy produced in coal-fired power plants by focusing on the renewable energy and the gas sector. In 2010 still more than half of the electrical energy was generated by lignite-fired power plants. Almost ten years later the ratio has dropped to only slightly more than 30%. A significant reduction in coal consumption was possible thanks to investments in renewable energy sources, especially in the wind and solar energy sectors. Both sectors have seen a large increase in production, making renewable energy sources already accounting for over 20% of Greek electricity production. Capital-intensive investments were also made in the country’s gas supply through the expansion of gas-fired power plants and gas transmission networks. As a result, natural gas remains the main source of energy for Greece next to coal. Unfortunately, a big challenge in terms of decarbonization is the need for increased imports of electricity from abroad, due to the insufficient capacity of the Greek energy sector. Therefore, the main purpose of this paper is to define a Greek model of decarbonization and to point out to its benefits and dangers. Greek strategy might serve as an example of how to successfully solve the energy issues in the countries with similar energy profile.