Greece has taken a key step toward developing its first commercial offshore wind farms by establishing a dedicated company to manage the technical surveys and seabed investigations required before construction can begin.
The new special purpose vehicle (SPV) has been created by the Hellenic Hydrocarbons and Energy Resources Management Company (EDEYEP) and will be responsible for conducting wind measurements, marine studies, and seabed analysis across selected offshore zones. These studies are essential for determining the technical feasibility of future offshore wind projects.
At this stage, EDEYEP is the sole shareholder, but the ownership structure is expected to expand as the program advances. Future participation may include the electricity transmission system operator ADMIE, financial institutions, and private sector developers involved in Greece’s National Offshore Wind Programme, including companies such as Hellenic Cables.
The initial survey campaign will focus on offshore areas near Evia, Gyaros, eastern Crete, and Rhodes, which together are estimated to have the potential to support around 1.3 GW of offshore wind capacity. Pilot projects planned near Alexandroupoli are not included in this phase of development.
A key driver behind the creation of the SPV is compliance with the requirements of Greece’s Recovery and Resilience Facility (RRF), which set a deadline of 30 June for its establishment. While the corporate structure is still evolving, authorities emphasize that securing funding for the survey work is the immediate priority, as completing the technical studies on time is critical for keeping the broader offshore wind roadmap on track.
The launch of the SPV is being seen as one of the clearest signals yet that Greece’s offshore wind strategy is moving from planning into an early implementation phase. However, investors are still calling for a more detailed and transparent timeline for both the survey campaign and the subsequent development stages, including licensing and project execution.
