Foreign and Greek enterprises active in Greece’s wind energy market are feeling ambivalent about the sector’s investment prospects.
On the one hand, officials at wind-energy sector firms believe that, under certain circumstances, a new wave of investments could develop in the near future as signs of change in the Greek economy could be emerging, various noteable projects are set for development, and access to bank capital is beginning to improve, even if just hesitantly.
On the other hand, sector investors fear that if procedures for the renewable energy sector’s new institutional framework do not swiften and the government fails to take decisive initiatives to promote investment activity then not only will the new wave of investments not arrive but, on the contrary, the country will risk falling into a new period of stagnancy.
Meanwhile, Greece has fallen far behind in the effort to attain national objectives set for wind-energy penetration and RES development, overall, by 2020. Also, numerous wind-energy investment opportunities exist in foreign markets.
The delayed finalization of the RES-supporting draft law, alone, is cause for serious concern among wind-energy sector investors, and also a reason for investment activity to be halted.
Wind-energy officials are also concerned about the content in the energy ministry’s draft law for the RES sector, as it appeared when forwarded for public consultation procedures in March, as well as in its latest form, based on leaked information.
Officials feel unsettled as it is unclear whether competitive procedures will apply for the wind-energy sector, through which specific capacities will be installed and prices determined for energy output absorbed.