Wind energy segment stalls in Greece with just 125 MW in annual gains

Wind energy had a slow year in Greece, adding just 125 MW of new capacity in 2024.

According to the Hellenic Wind Energy Association (HWEA or ELETAEN), after expanding by 230 MW in 2022, the sector added 543 MW in 2023 and then stalled in 2024, with only 125 MW.

Specifically, 39 new wind turbines were installed, representing investments of EUR 150 million. The total installed wind capacity in the country reached 5.36 GW by the end of last year.

2025 to bring increased installation

Despite the slowdown, HWEA estimates that in 2025 volumes would pick up as a result of projects maturing and entering the construction phase. The association also notes that regulatory hurdles by local bodies continue to plague the sector and delay investments.

Over 1.1 GW of new wind farms are currently under construction or contracted. Most of them are expected to connect to the grid within the next 18 months. Another 300 MW has been selected through auctions or letters of guarantee were submitted. As a result, total capacity is expected to reach 6.5 GW in the next two years.

Wind farms are spread unevenly across the country. Central Greece accounts for 44%, with 2.35 GW. Peloponnese follows with 12% or 667 MW while Eastern Macedonia and Thrace is third with 10% or 535 MW.

Terna Energy remains biggest player in the market

Terna Energy, recently acquired by Masdar, is the number one player in the sector, with a 19.3% share (1.03 GW). MORE, Motor Oil’s subsidiary, follows with 14.3% (766 MW). Iberdrola Rokas has a 7.6% share (409 MW), compared to 6.8% (368 MW) for Principia (formerly Enel) and PPC Renewables with 5.2% (276 MW).

When it comes to turbine suppliers, Vestas has provided machines for 44.7% of combined capacity. Next are Enercon (25.8%), Siemens Gamesa (16.8%), Nordex (7.3%) and GE Renewable Energy (3.8%).

Last but not least, wind energy had its highest hourly share on Monday, April 8, at 3:00-4:00 am, covering 90.3% of the country’s power production. Wind stood at over 30% for 2,575 hours last year.