Greece: Mayor players in offshore wind farm market increased their interest

, SEE Energy News

The Greek Government intends to use funds from the European Green Deal to help the corporate sector start the production of components for renewable energy plants and for the infrastructure necessary for offshore wind power, such as undersea power cables.

Interest in untapped Greek offshore wind sector is increasing, while authorities are working on the legislation that would regulate licensing, zoning and connecting the facilities to the national electricity grid.

Several mayor players in the global offshore wind market are preparing for the entry into Greek market, among which are Norwegian Equinor, Copenhagen Offshore Partners (COP) from Denmark, the German E.ON’s subsidiary Innogy and US-based Principle Power.

Norwegian state-owned Equinor has already revealed it is looking at an area in the Cyclades in the Aegean Sea between Tinos, Syros and Mykonos. Currently, the company operates more than 15 offshore wind facilities. Principle Power has already installed five offshore wind farms and eight more are under construction. Its major shareholders are EDP, Aker Solutions, Repsol, ASM Industries and Tokyo Gas.

The Ministry of Energy is preparing a bill to cover locations, licensing, compensation and interconnections with the mainland electricity network. Zones suitable for development may be determined following strategic environmental assessment, after which concessions could be tendered. Protected areas should be excluded and the authorities are reportedly looking at ways to prevent any obstacles to navigation and fishing.