A legal framework for offshore wind farms will be ready within the next few months, no later than the end of the year’s first half, enabling investments in this sector to begin in Greece, the energy ministry has assured.
The energy ministry’s leadership is expected to reiterate this stance, without offering further scheduling details, at an event to be staged today by ELETAEN, the Greek Wind Energy Association. Energy minister Kostas Skrekas and the ministry’s secretary-general Alexandra Sdoukou will be participating.
Norway, a country with extensive offshore wind farm knowhow, will be strongly represented at the ELETAEN event. The Norwegian Ambassador to Greece, Frode Overland Andersen, and Daniel Willoch, a representative of NORWEA, the Norwegian Wind Energy Association, will take part.
So, too, will Giles Dickson, CEO at Brussels-based WindEurope, promoting the use of wind power in Europe.
If all goes as planned with efforts being made by the energy ministry, as well as ELETAEN, a first auction for offshore wind farms in Greece could be staged within the first half of 2022.
Considerable progress has been made in recent months, but pending issues on important details concerning spatial and licensing matters, connectivity with power grid operator IPTO’s network, as well as a remuneration formula for investors, all still need to be settled. The overall effort is complex and involves a number of ministries.
Investor interest in offshore wind farms is high as studies project electricity costs concerning floating units in Greece will experience a 40 percent decline by 2050. This cost, according to an older European Commission study, was estimated to drop from 76 euros per MWh in 2030 to 46 euros per MWh in 2050.
The same study estimated Greece’s offshore wind farm capacity would reach 263 GW, a prospect promising investors sustainability for the development of such projects.
Norway’s Equinor has already expressed the strongest interest for offshore wind energy development in Greece. Denmark’s Copenhagen Offshore Partners, also a major global player, has also shown some signs of interest.
As for Greek companies, TERNA Energy, the Copelouzos Group, and RF Energy have, in the past, submitted applications for offshore wind energy parks to RAE, the Regulatory Authority for Energy.