Floating wind farm projects
The National Program for the Development of Offshore Wind Farms has created high expectations. Foreign and domestic investors recognize the high quality of the work of the Hellenic Hydrocarbons and Energy Resources Management Company (EDEYEP) and the clear support of the Energy Ministry to run the program fast, as the studies and licensing will proceed simultaneously, and rate the emerging Greek market as one of the most attractive for offshore wind projects worldwide.
The national program mainly concerns floating wind farms, a technology still at a fairly early stage and therefore very expensive, so the cost and implementation of projects are directly related to the development of the local supply chain. Market insiders emphasize that without a local supply chain, no project can proceed until 2035 at the earliest.
A prerequisite is the development of a secondary market, which in turn must rely on a critical mass of projects that will ensure its sustainability. To address this double challenge, EDEYEP and the ministry are launching the implementation of two floating wind farms as pilot projects which will help potential investors make investment decisions.
