Greece Increases Offshore Wind Capacity Target to 2.35 GW with Zone Allocations
Greece's Ministry of Environment and Energy has raised its offshore wind capacity goal to 2.35 GW, establishing specific capacity allocations for marine zones. This strategic adjustment signals an increased commitment to renewable energy and the development of offshore wind infrastructure.
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Greece's Ministry of Environment and Energy has revised its offshore wind capacity target to 2.35 GW from the previous range of 1.9 GW to 2 GW. Specific capacities per marine zone include 600 MW in Thrace, 250 MW in Crete, 500 MW in the Dodecanese, and 500 MW around the Cyclades and Gulf of Euboea, with an increase from 200 MW in the Gulf of Patras.
The decree also outlines connection points for the offshore farms to the power transmission network, while investors will compete for contracts for difference (CfD) in upcoming auctions. A special purpose vehicle (SPV) under HEREMA will conduct surveys, with interest from various investors including banks and manufacturers. The lack of a protective mechanism against curtailments poses a risk for investors in the offshore sector.
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