The Greek Environment and Energy Ministry is expected to finalize a bill that paves the way for the construction of floating wind farms across the country.

Greece hopes to pass legislation in parliament in the coming period in order to announce tenders for pilot projects in 2026. Investors are already expressing interest.

The Greek government is aiming to deliver at least 2 GW of offshore wind energy capacity by 2030 as part its National Energy and Climate Plan.

The projects, say market insiders, will position Greece at the forefront of renewable energy development, enhance energy security, create green jobs, and accelerate Greece’s transition to net zero carbon emissions.

Based on Foundation for Economic & Industrial Research (IOBE) findings, the installation of offshore wind farms can boost the country’s GDP by up to 1.9 billion euros a year in the 2024-2050 period and generate up to 440 million euros in revenues annually.

The sea areas of Crete, the Cyclades, Attica, the Dodecanese, and Thrace are according to initial plans for the 2025-2034 period and following exploration and identification among the most suitable areas for the installation of floating wind farms.

According to OT, the areas for the medium-term development phase set to host 1.9 GW of projects in 2030 based on the revised climate plan are located in eastern Crete (Agios Nikolaos), southern Rhodes, central Aegean (Donoussa, Gyaros islands), Evia (Agioi Apostoli), and the Ionian Sea.

The first projects are set to mobilize 6 billion euros in investments expected to reach over 28 billion euros by 2050.

It should be noted that local communities, tourism stakeholders, environmental groups and municipal authorities across the country have reacted to the news taking actions to halt the creation of gigantic offshore wind parks.

Since 2022, HEREMA, the Hellenic Hydrocarbons and Energy Resources Management Company, is responsible for the research, exploration, and identification of offshore wind farm development areas (OWFODA) and for assigning research rights to third parties.