Crete added to first-round list of offshore wind farm areas

Crete will be included on a list of regions selected for first-round development of offshore wind farms, planned to offer an installed capacity of 2 GW by 2030, joining Alexandroupoli, in northeastern Greece, already chosen by the energy ministry through a legislative procedure, Alexandra Sdoukou, the ministry’s secretary-general, has revealed at an industry conference.

No further details were given on the Cretan offshore area to be chosen for the first-round development of offshore wind farms, through licenses offered at auction.

One or two more offshore areas, already identified, will be added to the list of Organized Offshore Wind Farm Development Areas (POAYAP), Sdoukou informed the event. However, the energy ministry official did not name these areas, noting she could not elaborate as related talks with respective local authorities were still in progress.

Sdoukou noted the 2030 target will be to mobilize private investment of 6.3 billion euros, when referring to the results of research conducted by consultancy group Grant Thornton on the added value for the national economy to result from this new RES sub-sector.

Of these funds, 4.3 billion euros will flow directly into the domestic economy, creating up to 8,220 new jobs by the end of this decade, she added.

During the creation of an institutional framework for offshore wind farms, Sdoukou commissioned a team of experts to survey the Greek seas, as a covert operation, with assistance from the foreign affairs, defence and tourism ministries, she told the conference.

It was organized by the Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA/EDEYEP), the Greek Wind Energy Association (ELETAEN), and Grant Thornton, under the auspices of the energy ministry.

 

 

At least four binding bids seen in HEDNO 49% privatization

Four consortiums have been established involving most, if not all, of the nine participants through to the second round of a sale offering a 49 percent stake in distribution network operator DEDDIE/HEDNO, a subsidiary of power utility PPC, indicating that at least four binding offers can be expected, when these are submitted within August, sources monitoring the procedure have informed.

All nine qualifiers have been assessing DEDDIE/HEDNO’s technical and financial data, the sources said.

At its most recent session, PPC’s board approved a plan for the transfer of the group’s electricity distribution assets to DEDDIE/HEDNO.

Also, PPC has commissioned professional services company Grant Thorton for the asset evaluation process, expected in August.

The privatization’s nine second-round qualifiers are:

ARDIAN Infrastructure Funds

BCI – British Columbia Investment Management Corporation

BLACKROCK – BlackRock Alternatives Management, L.L.C

CVC Capital Partners – Advisers Company, S.a.r.l

F2i – Fondi Italiani per le Infrastructure SGR S.p.A

First Sentier Investors EDIF III GP S.a.r.l

KKR – Kohlberg Kravis Roberts & Co. L.P.

MACQUARIE Group Limited

OHA – Oak Hill Advisors LLP

Grant Thornton Hellas developing Greek offshore wind farm framework

Business adviser Grant Thornton Hellas, commissioned and funded by the European Bank for Reconstruction and Development, has taken on the development of an institutional, legal and regulatory framework for offshore wind farms in Greece, in support of an overall effort being made by the energy ministry, energypress sources have informed.

Grant Thornton Hellas has already received an assortment of proposals, including on spatial and licensing matters, from interested parties, among them ELETAEN (Greek Wind Energy Association), ESIAPE (Greek Association of Renewable Energy Source Electricity Producers), EDEY (Greek Hydrocarbon Management Company), and IPTO (power grid operator).

Grant Thornton Hellas intends to also examine frameworks developed by other countries for their offshore wind farm sectors.

The energy ministry is striving to finalize the Greek framework’s key sections by June, as has been announced by ministry officials, or, at the very latest, within the summer, ahead of legislative procedures by the government.

A high-level plan, the framework’s nucleus, is planned to be completed within May so that legislative procedures can take place in June, sources said.

To serve as a road map, the high-level plan will need to provide details on: the selection criteria to be applied when choosing offshore areas to host initial projects; licensing steps for investors; the agency to be given responsibility of the licensing and project maturity processes; and the timing of auctions for tariffs.