Investors are calling for well-considered measures from the State that would reduce the risk of investments in Greece’s emerging offshore wind energy sector.

Their sense of apprehension was highlighted by Greek Wind Energy Association (ELETAEN) president Panagiotis Ladakakos at yesterday’s Athens Energy Summit, who underlined that “offshore wind farms are a great opportunity and challenge for Greece”.

A key issue concerning investors is the emerging sector’s new regulatory framework, which has given a concentration of authority to the Greek State, a condition that could be interpreted as both favorable and unfavorable. On the one hand, all offshore wind farm matters are linked to one entity, which could offer administrative efficiency, and on the other, this concentration of authority could lead to bureaucratic delays.

Also, a law ratified last year falls short of securing exclusive rights to project developers for specific offshore areas, even if they have conducted related project studies, spending big amounts in the process. Investors will need greater clarity over extended periods to consider developing offshore wind farms, market officials have noted.

Network access is another issue of concern, as was highlighted by the ELETAEN chief at yesterday’s energy summit. Special provisions are needed to ensure grid capacity will be available when offshore wind farms are completed and ready to be connected to the grid, Ladakakos pointed out.

Related port infrastructure and a supply chain supporting the development of the offshore wind energy sector are also needed, market players have noted, stressing that, given this task’s size and specialized nature, a central authority should ideally be appointed.

EDEYEP, the Hellenic Hydrocarbons and Energy Resources Management Company, is already being eyed by market officials as an appropriate authority, though no indications of the company’s possible appointment for the task have been expressed at a political level.