A special purpose vehicle being prepared by the energy ministry and authorities to oversee the development of offshore wind farms in Greece may include a banking group as a partner alongside EDEYEP, the Hellenic Hydrocarbons and Energy Resources Management Company, and power grid operator IPTO.

Banks could play an institutional role in the SPV to be established for what is considered a high-risk domain, whereas, on the contrary, individual investors would be less likely to commit capital to ventures entailing increased risk, officials have noted.

The energy ministry and EDEYEP’s leadership are currently engaged in talks for final decisions on the SPV’s line-up ahead of a related legislative revision, for the SPV, expected to be submitted to Parliament towards the end of March.

The SPV will be headed by EDEYEP so that the company may organize wind and deep-sea studies at marine areas marked out for a first wave of offshore wind farms.

Panagiotis Ladakakos, President of ELETAEN, the Greek Wind Energy Association, has pointed out a series of concerns that will need to be addressed by authorities in the lead-up to the development of the offshore wind farms sector in Greece, including shaping an appropriate structure for upcoming auctions; ensuring support for EDEYEP, so that the company may fulfil its role; and remaining fully aware of positions maintained by local communities.

The ELETEAN president raised these points at an offshore wind farms event staged by RAAEY, the Regulatory Authority for Waste, Energy and Water, as part of Renewable Energy Tech, the main event held by energypress.