Press Release
Grant Thornton, HEREMA and ELETAEN organized a conference on the future of Wind Energy in Greece
14 Dec 2022
Athens, 14.12.2022
Grant Thornton, the Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) and the Hellenic Wind Energy Association (ELETAEN), jointly organized a conference entitled: "Offshore Wind Energy in Greece: The way forward", which took place on Monday December 12 at the Athenaeum InterContinental Athens Hotel.
The conference, which was organized under the auspices of the Ministry of Environment and Energy, was attended by important stakeholders in the energy sector, as well as representatives of global companies with extensive experience in offshore wind projects.
The Secretary General of Energy and Mineral Resources of the Ministry of Environment and Energy, Mrs. Alexandra Sdoukou, opened the event by describing the Ministry initiatives to create a modern, comprehensive legal framework for offshore wind development in Greece as well as to map the Greek Seas for suitable areas for development of offshore projects. Moreover, Ms. Sdoukou described the vision for the Greek offshore wind industry going forward, presenting the many benefits of this technology for the energy system but also the country’s economy. The Norwegian Ambassador in Greece Mrs. Lajla Brandt Jakhelln addressed the conference too.
Furthermore, in this extremely successful workshop, the attendance of which surpassed every expectation, the keen interest by Developers and Investors from all over the world was demonstrated, regarding this new Renewable Energy sector for Greece.
Greece has now a transparent and robust regulatory and institutional framework for the development of Offshore Wind Parks, which strikes the optimal balance between de-risking the investment but also speeding up implementation.
Three institutions play crucial roles towards that direction: The Transmission System Operator ADMIE, who is on board from the beginning in the selection criteria for the sites to be developed and guarantees the connectivity at optimal cost, the Regulatory Authority of Greece RAE, will guarantee the competitiveness of remuneration of the generated green energy, while HEREMA the competent authority for the national planning of the offshore wind farms.
Moreover, major benefits for the Greek economy are anticipated from this new industry. The domestic manufacturing and services sectors are expected to play an important role in the supply chain, absorbing up to 67% of the estimated €28 bil capital investments up to 2050, and creating more than 8000 permanent and high-skilled jobs.
Undoubtedly, as global energy demand is expected to increase significantly by 2050, the success of the energy transition project will depend fundamentally on the coordinated and efficient utilization of all available energy sources.
Grant Thornton had the privilege to be selected by EBRD as the Lead Consultant to assist the Greek Government in the preparation of the complete regulatory framework. The project begun in April 2021 culminating in October 2022.
CEO of Grant Thornton, Mr. Vassilis Kazas, commented: “We are very pleased to continue actively participating in the public debate on energy transition - a major issue and a huge challenge for humanity in its entirety in the coming decades. We, on our side, try to practically contribute to creating a more sustainable future, both - through our business and investment strategic choices -, as well as via organizing initiatives and events, such as this conference, held jointly with HEREMA and ELETAEN. A lot of interesting ideas and opinions were discussed at this conference that helped us make useful conclusions, especially concerning the prospects of wind energy projects in our country". Also, Mr Frydas Vice President,Principal,Energy Sector in Grant Thornton stated “Grant Thornton is proud to have acted as the Lead Consultant in supporting the Greek Government developing a complete regulatory and institutional framework for Offshore Wind Parks. Greece’s commitment to a sustainable energy future received a major boost with the promulgation of the new Offshore Wind Law in July 2022, while the National Plan, setting the criteria for selection and identifying the wider areas to be developed, will be approved by Q2 2023. Greek seas wind resources are amongst the best in Europe, and the new industry not only will decisively contribute to Greece’s roadmap to climate neutrality, but the benefits to the domestic economy and as industry and manufacturing sectors are expected to capture a major part of the supply chain.”
CEO of HEREMA Mr. Aristofanis Stefatos, stated: “We in HEREMA are delighted for the opportunity to present the roadmap for the development of offshore wind farms in Greece, a critical technology to achieve the energy transition goals. Considering the high investment interest in such projects, the urgency imposed by the energy crisis and their expected significant contribution to the national economy, we recognize the importance to deliver on time. We are optimistic as we are taking over the significant work prepared by the Ministry of Environment and Energy and their consultants”.
The President of the Hellenic Wind Energy Association ELETAEN Mr. Panagiotis Ladakakos said, among others: "Offshore wind energy offers an important opportunity for Greece: clean energy with significant domestic added value. Today, onshore wind is - together with photovoltaics - the cheapest form of electricity generation, and -for this reason- the acceleration of the immediate implementation of onshore wind farms is critical for the economy. At the same time, we are starting the development actions and efforts for offshore wind farms, to achieve having the first of them within the next years. We need offshore wind because it offers large volumes of power and can make Greece a clean energy exporter. Importantly, this effort enjoys cross-party support: Both the previous and current Governments have worked for its success. Today we have a new institutional framework. The challenge is its rapid and effective implementation. ELETAEN, with its institutional role, criticism and proposals, will support the efforts of the State in this direction".
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