Greece keen to utilize American RES technology; funds eyeing market

The government wants to utilize latest American technology for more recent RES and RES-related domains such as offshore wind farms and energy storage, the energy ministry’s secretary-general Alexandra Sdoukou noted yesterday during a meeting with US Secretary of State Mike Pompeo and other US officials in Thessaloniki.

For quite some time now, American renewable energy producers, institutional investors and funds have been scanning the Greek market for RES market opportunities.

A complete framework for offshore wind farms in Greece will be presented early in 2021, Sdoukou pointed out during yesterday’s meeting.

Major offshore wind farm development has been achieved off the American west coast, featuring, like the Mediterranean, waters of sudden depth, ideal conditions for the development of offshore wind farms.

US firms such as Invenergy, one of North America’s biggest wind energy producers; 547 Energy, a RES platform for Quantum Energy Partners; National Energy; and wind energy equipment manufacturer General Electric, have displayed a rising interest in the Greek market.

Besides RES and RES-related companies, a number of American funds are seeking investment opportunities in Greece.

At least ten US funds appear to be keeping a close watch on power utility PPC as a result of the corporation’s strategic turn to renewable energy.

They include Bell Rock Capital, Sephora Investment Advisors, Waterwill Capital Management, Cleargate Capital, Golden Tree Asset Management, Helm Investment Partners, Knighthead Capital Management, Craftsman Management, Colt Capital Partners and Kirkoswald Αsset Μanagement.