Wind energy investments totaling €1.5bn expected soon

Ten major corporations and associates are set to invest around 1.5 billion euros, in total, over the next three years for the development of wind-energy facilities representing a total capacity of 1,400 MW.

A series of decisions made by local officials right before the end of 2016 received little media attention, but they will pave the way for these investments by the major players.

The majority of these projects are being planned by the ten biggest RES players in the Greek market or smaller firms planning partnerships with these.

Investors include Terna Energy, Eltech Anemos, Protergia, PPC Renewables, Enel, EDF, Iberdrola Rokas, Eren, Elika and RF Energy.

The projects, expected to be developed imminently, can be divided into three categories. The first concerns projects with a total capacity of 500 MW for which applications have already been submitted to LAGIE, the Electricity Market Operator. A second category concerns projects totaling 400 MW in the southern part of Evia, Greeces’ second largest island just northeast of wider Athens. The Evia facilities will be connected to an underwater cable linking a substation in seaside Polypotamos, Evia, with another substation in Nea Marki, on the coast of northeast Athens. A third category concerns older projects that have already secured steady tariffs.

With just days remaining in 2016, a number of RES investors grouped in the first category secured feed-in premiums at a level of 98 euros per MWh, without having to take part in tenders, required as of January 1 this year. These investors submitted required applications by December 31, 2016.

The third category of older projects concerns agreements signed by RES investors with LAGIE until December 31, 2015, for feed-in tariffs of 105 euros per MWh, under the condition that the projects are connected to the grid by June, 2018.