Will Greece manage to restart its offshore wind development through a new offshore wind framework, rumored to be ready for launch within the month?
After approving a framework for maritime spatial planning in 2008 and licensing two offshore wind projects in Greece in 2012, Greek authorities have been mostly quiet about offshore wind for a decade, leaving the two licensed projects in a state of uncertainty.
However, in 2021 the Greek government set a target of 2 GW offshore wind by 2030, and a regulatory framework for offshore wind may be just around the corner. Rumors indicate the framework, including plans for offshore wind auctions, could undergo final consultation sometime in June.
Few announced offshore wind projects leave Greece an uncrowded market
International developers such as Equinor, Ocean Winds and Copenhagen Infrastructure Partners have expressed interest in the Greek offshore wind market.
But with only a few offshore wind projects in Greece announced, it is still a relatively open market – especially compared to other South European markets, which are starting to get crowded.
With the added driver of reducing dependence on Russian gas, Greece could jump on the momentum building in other South European markets, namely Spain, France and Italy.
Like Spain, Mediterranean France and Italy, Greece is primarily a floating offshore wind market due to deep water.
Greece also has good wind resources, ranging from 8.5 to 9.5 m/s across most of the Aegean Sea, which is higher than typical mean wind speeds in Italy and only slightly lower than in France and Spain.
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