Greece Raises Offshore Wind Target to 2.35 GW

en.Wedoany.com Reported - The Greek Ministry of Environment and Energy, through a new decree, has raised its offshore wind power planning target to 2.35 GW, exceeding the 1.9 to 2 GW target set in the original National Climate and Energy Plan (NECP).

The new decree specifies the project capacity for each sea area. A 600 MW pilot project will be deployed in the offshore area of Thrace, with a capacity of 250 MW in the Crete region and 500 MW in the Dodecanese. A total of 500 MW is planned around the Cyclades and the Gulf of Euboea, with a capacity of 200 MW in the Gulf of Patras. The ministry has also clarified the connection points between offshore wind farms and the transmission network.

After a prolonged stagnation, the ministry has published the terms for upcoming auctions. Investors will bid on Contracts for Difference (CfD), except for the 600 MW pilot wind projects, which are eligible for feed-in tariffs. The Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) had proposed a curtailment protection mechanism, but the ministry did not adopt it, meaning offshore wind farms will be subject to such restrictions like other renewable energy technologies.

A special purpose vehicle (SPV) under HEREMA will be responsible for wind and water depth surveys. According to Energypress, potential investors in the SPV include the Independent Power Transmission Operator (IPTO or ADMIE), cable manufacturers, and banks. The SPV must complete all surveys and have the necessary funds before the auctions are held.