Chart of the Month Vol. 27 | "Harnessing the Sea Winds: Offshore Wind Developments in Greece" | Powered by Deloitte

Greece is accelerating its efforts to integrate offshore wind power into its energy portfolio, with ambitious goals outlined in the NECP. By 2030, the country aims to have its first operational offshore wind park. These efforts aim for the NECP target capacity of 1.9 GW then expanding to 17.3 GW by 2050. A pilot project, already in active development, with the associated areas for exploitation having the potential of up to 600 MW in the north Aegean Sea.

The Greek government has identified 23 areas suitable for offshore wind projects, with a combined potential of 2.3 GW, overcompensating the initial 2030 goal. Both fixed and floating offshore wind technologies are expected to become more cost-effective over the coming decades, driving further investment and development.

To achieve these ambitious targets, Greece will need substantial financial investment, estimated at 7.7 billion € by 2030, and up to 60 billion € cumulatively by 2050. These investments are crucial for the fast-tracking and successful implementation of Greece's offshore wind power initiatives.

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