Greece increases its offshore wind target to 2.35 GW and establishes capacity limits for each zone.

The planned capacity of offshore wind farms in Greece has been set at 2.35 GW, as stated in a new decree from the Ministry of Environment and Energy. This is an increase from the previously estimated 1.9 GW to 2 GW outlined in the National Climate and Energy Plan (NECP). The ministry has also specified the capacity for each marine zone. The offshore area of Thrace will retain its capacity of 600 MW for pilot projects. The area around Crete is expected to accommodate 250 MW, while the Dodecanese islands will add another 500 MW. In the Cyclades and the Gulf of Euboea, a total of 500 MW is planned, which is an increase from the 200 MW designated for the Gulf of Patras.

Furthermore, the ministerial decree outlined the connection points for the offshore wind farms to the power transmission network.

No safeguards against curtailment have been established. After a prolonged delay, the ministry announced the conditions for forthcoming auctions. Investors will compete for contracts for difference (CfD), except for the 600 MW in pilot wind farms, which will qualify for feed-in tariffs.

The Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) initially suggested a protective mechanism against curtailments, but the ministry did not approve it. Thus, offshore wind farms will face the same curtailment restrictions as other renewable technologies.

A special purpose vehicle (SPV), which is a project firm under HEREMA, will be responsible for conducting surveys on wind conditions and water depth.

According to Energypress, there are interested investors looking to become shareholders in the SPV, including the Independent Power Transmission Operator (IPTO or ADMIE), cable manufacturers, and banks.

The plan requires the SPV to secure adequate funding to complete all necessary surveys before the auctions occur.