Renewables

Four major companies eye Greek offshore wind projects

Four companies Greek offshore wind

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Published

October 21, 2020

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Published:

October 21, 2020

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Equinor, Copenhagen Offshore Partners (COP), Innogy and Principle Power are getting ready to develop offshore wind facilities as the Greek Ministry of Environment and Energy is working on a law that would cover segments like licensing, zoning and interconnections.

Several heavyweight players in the global offshore wind farm market are preparing to act when upcoming Greek legislation regulates investment in the sector, Energypress reported. Without identifying sources, the article points to Norway’s Equinor, Copenhagen Offshore Partners (COP) from Denmark, the German E.ON’s subsidiary Innogy and Principle Power, based in the United States.

Of note, domestic firm Chalkis Shipyards earlier started a project with local scientific institutions to research the wind potential at sea in Greece and identify opportunities for the development of offshore units in the Aegean. Streamlined Naval Architects, ETME, Ergomare and Enalios Diving Center installed a FloatMast platform near the island of Makronissos last year to measure wind speed.

Terna has the biggest ambitions among Greek companies. It already started the procedure for a 450 MW offshore park between Attica and Evia. Further north it plans a 585 MW offshore wind park.

The Copelouzos Group has revealed it wants to install a 216 MW facility, also in the Thracian Sea. RF Energy has indicated it would construct an offshore wind farm in the North Aegean, near Lemnos.

Ideol, headquartered in France, is said to have expressed interest this year as well for such endeavors in Greece.

State support to be provided from European funds

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.

Zones suitable for development may be determined following strategic environmental assessment, after which concessions could be tendered

The Ministry of Environment and Energy is preparing a bill to cover locations, licensing, compensation and interconnections with the mainland grid. The media outlet learned the zones suitable for development may be determined following strategic environmental assessment, after which concessions would be tendered.

Protected areas should be excluded and the authorities are reportedly looking at ways to prevent any obstacles to navigation and fishing.

Equinor interested in Cyclades area

Norway’s state-owned Equinor, formerly known as Statoil, has already revealed it is looking at an area in the Cyclades in the Aegean Sea between Tinos, Syros and Mykonos. It runs more than 15 offshore facilities. The company has just placed bids in New York for two wind plants at sea with a total capacity of up to 2.5 GW.

Principle Power already installed five offshore wind farms and eight more are under construction. Its major shareholders are EDP – Energias de Portugal, Aker Solutions, Repsol, ASM Industries and Tokyo Gas. China Three Gorges has the largest stake in EDP, at 21.55%.

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