Approved Investment projects through Fast Track procedure – Greece
19 November 2013
Greek’s map for granting the regional development aid between 2014 – 2020 is approved
13 May 2014

Wind Energy

Wind parks

Wind Energy

Powering Growth in the Energy Sector
 

Wind, or aeolic, power is driving growth in the renewables sector and represents a huge investment potential in Greece. The superb wind resources in Greece are among the most attractive in Europe, with a profile

of more than 8 metres/second and/or 2,500 wind hours in many parts of the country. Capacity increased by an average of 30% annually between 1990 and 2003 and almost 30% of total capacity was installed in the

period of 2003-2004.

 
It is estimated that in addition to the 1200-plus MW operating currently, at aeolic parks a further 9,000 MW will be installed by 2020.
 

Renewables can be developed in Greece at very competitive costs and the target is for renewables to have 29% share of electricity production by 2020. Because these targets are legally binding, due to EU

regulations and Kyoto Protocol agreements, investors can be assured of stable, long-term market objectives in the Greek Res market.

 

Advantages of Investing in Wind Energy

  • Superb wind resources—among the best in Europe
  • Priority dispatch by the system operator
  • High feed in tariffs
  • 20-year PPA (power purchase agreement)
  • Favourable, long-term legislative framework, ensuring investment reliability
 

Current Feed in Tariffs (FITs guaranteed for 20 years)

In EURO/MWh Interconnected System Non Interconnected Islands
Onshore Wind Farms 87.85 99.45
Offshore Wind Farms 104.85

The growth of the renewables sector in Greece is guaranteed by legally binding targets that require a RES share of 29%of total produced energy by 2020, from a current share of nearly 10%, which includes small hydroelectric dams.

Ministry of Economy, Competitiveness and Shipping (http://www.ypoian.gr/)

Regulatory Authority for Energy (http://www.rae.gr/)

Centre for Renewable Energy Sources (http://www.cres.gr/)

Hellenic Transmission System Operator (http://www.desmie.gr/)

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