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.
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/)
