Mitsotakis Wants Greece to Become Exporter of Green Energy

Prime Minister Kyriakos Mitsotakis on Thursday said he hoped Greece would become an exporter of green energy “in the medium-term.”

The Greek PM was speaking on the topic “European Green Deal, Anyone?” at the World Economic Forum in Davos.

“We hope that, in the medium term, Greece will become an exporter of green energy, taking advantage of the advantages we have, especially in terms of wind energy,” he said.

Greece, which is surrounded by sea and has strong, steady winds suitable for producing energy, generated more than fifty percent of its power from onshore wind, solar, and hydro last year. The rest of its electricity was produced from greenhouse gas-emitting natural gas, coal, and oil.

“There is great interest for investments in this sector,” he said and added that Greece seeks to become a major energy provider through strong interconnections, pipelines, storage, and liquefaction facilities.

In 2022, Greece’s Parliament approved a law on the development of offshore wind energy, as the country aims to install at least 2 GW in offshore wind farms by 2030.

According to the law, sea areas offered for concession will first be approved by government ministries.

Greece looks to offshore wind farms for green energy

The plan that was drafted in the autumn of 2023 includes 25 eligible development areas in the Aegean, Ionian, and Mediterranean seas that will become available in two time periods, some between 2025 and as late as 2032, and some later, said the Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA), which is in charge of the program.

This is the list of Offshore Wind Farms Organized Development Areas eligible for the medium-term development phase:

– Eastern Crete, where it is estimated that projects with a total capacity of 800 MW will be developed

– Southern Rhodes, with a maximum installed capacity of between 300 MW and 550 MW

– Central Aegean, with a maximum installed capacity of between 200 MW and 450 MW

– Evia-Chios axis, with a maximum installed capacity of 300 MW

– Ionian Sea, with a maximum installed capacity of 450MW

“The development of these projects is a national priority not only because it will contribute decisively to our energy independence, but also because it enables us to export green energy in the future,” Minister of Environment and Energy Theodoros Skylakakis said in November.

“It therefore gives us the opportunity for further economic growth and the opportunity to strengthen our country’s role as a critical regional energy hub,” he added.

A recent study by research think-tank ELIAMEP said that offshore wind energy can play a key role in helping Greece become carbon neutral by 2050.

A hypothetical floating offshore wind farm of 495MW energy capacity located at an average ten-kilometer distance from the shore and 250-meter water depth is expected to require an investment of almost €1 billion over its lifetime.

This farm can create around two million MWh annually over 25 years, covering around four percent of Greece’s annual energy demand and reducing CO2 emissions by 1.5 million tons, ELIAMEP concluded.

Related: Greek Islands and Renewable Energy: A Green Future