![Greece Aims to Boost Energy Capacity, Economy with Offshore Wind Farms](https://www.ot.gr/wp-content/uploads/2023/07/sea-wind-turbines.jpg)
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.
Source: tovima.com
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![ELSTAT: Building Permits Increased by 40.1% in Greece](https://www.ot.gr/wp-content/uploads/2024/07/oikod1-600x380.png)
ELSTAT: Building Permits Increased by 40.1% in Greece
Focusing on Private Construction Activity during this period, there was a 41.8% increase in building permits nationwide, a 40.2% rise in the area, and a 26.8% expansion in volume
![Greek Economy: Bankers’ Insights on Investments and Reforms](https://www.ot.gr/wp-content/uploads/2024/03/ot_bankers4-600x352.png)
Greek Economy: Bankers’ Insights on Investments and Reforms
He also noted that the Recovery and Resilience Fund has seen over 50% of its funds absorbed, with more than 20% having been directed into the real economy.
![Greece: Airbnb Occupancy Hits 40% in June](https://www.ot.gr/wp-content/uploads/2024/05/airbnb-1-600x400.jpg)
Greece: Airbnb Occupancy Hits 40% in June
This growth, averaging about 20,000 new units per month, pushed the total number of accommodations to 224,860 by June, up from 204,578 the previous year.
![Fraport: Greece’s Regional Airports See 5.9% June Surge](https://www.ot.gr/wp-content/uploads/2024/07/ot_airport_affixeis-1-1-600x352.png)
Fraport: Greece’s Regional Airports See 5.9% June Surge
Overall, during the first half of 2024, Fraport Greece's airports achieved remarkable results, handling more than 12.7 million passengers, a 7.8% increase compared to 2023.
![SFEE: Just 1 in 5 New Pharmaceutical Drugs Reach Greece](https://www.ot.gr/wp-content/uploads/2024/07/ΦΑΡΜΑΚΑ-shutterstock_1467910202-2048x1365-1-600x400.jpg)
SFEE: Just 1 in 5 New Pharmaceutical Drugs Reach Greece
Greece spends 70% less than the European average on pharmaceuticals, and Greek patients face significant challenges accessing pharmaceutical drugs and treatments that are available in the country
![Attica Bank: Merger Process With Pancreta Commences](https://www.ot.gr/wp-content/uploads/2024/07/attica-bank-2048x1288-1-600x377.jpg)
Attica Bank: Merger Process With Pancreta Commences
A relevant announcement said the merger with Pancreta is expected to be completed by mid September
![Crete’s Heraklion Port Concession Deal Approved](https://www.ot.gr/wp-content/uploads/2021/10/heraklion-port2-1-600x369.jpg)
Crete’s Heraklion Port Concession Deal Approved
Owner of Minoan Lines Grimaldi Group acquired a 67% share of the port for a total price of 80 million euros
![Santorini Warning of Cruise Passenger Influx Causes Uproar](https://www.ot.gr/wp-content/uploads/2024/07/santorini1-600x400.jpg)
Santorini Warning of Cruise Passenger Influx Causes Uproar
A Santorini councilman urged locals to stay put and limit their activities during the arrival of cruise ships due to overtourism
![European Commission Approves Fourth 2.3 Billion Loan Payment to Greece Under RRF](https://www.ot.gr/wp-content/uploads/2024/04/european_commission_hq-flags_web-3-600x375.jpg)
European Commission Approves Fourth 2.3 Billion Loan Payment to Greece Under RRF
The Commission's preliminary assessment of Greece's request, completed on June 14, 2024, was positive, reflecting Greece's successful implementation of its recovery and resilience plan
![Greek Tourism: Projects Shaping the Landscape](https://www.ot.gr/wp-content/uploads/2023/08/Mandarin-Oriental-Costa-Navarino-Ormos-Beach-Club-1024x767-1-600x449.jpg)
Greek Tourism: Projects Shaping the Landscape
In Vonitsa, Aetolia-Acarnania, the Varko Bay resort is emerging as the first ultra-luxury retreat by Banyan Tree in Europe