Wind Energy Market – 2011

An Expert's View about Energy Efficiency in Greece

Last updated: 23 Mar 2011

Summary

The ridges of Greece’s mountains on the mainland and its numerous islands are swept by winds that regularly reach and sometimes exceed, 18 miles per hour. As a result, Greece’s potential for wind power is among one of the strongest in Europe with an estimated market value of approximately 970 million dollars (present value) by 2015, and this potential is expected to remain strong for at least the next 3–5 years. Currently, around 1300 MW of wind power systems are operating in Greece and by the end of 2013, these systems’ aggregate installed capacity is projected to reach 3120 MW.

Greece and the E.U, per the Kyoto Protocol set the “20-20-20” goals that among other targets call for 20 percent of each E.U. member state‘s end gross energy consumption to come from renewable resources; a commitment to greater usage of renewable energy sources (RES) in total domestic electricity production from 8.4 percent in 2002 to 20.1 percent by 2015. This has to be accomplished while complying with another E.U. “20-20-20” target that calls for annual greenhouse gas emissions to decrease to at least 20 percent below 1990 levels. http://ec.europa.eu/clima/policies/brief/eu/package_en.htm

Wind energy is among the top green energy policy priorities of the current Greek government. The Greek Ministry of Environment, Energy and Climate Change (GMEECC) has recently ratified a new law (Law 3851/2010) which, along with the relevant Ministerial Decrees issued in the summer of 2010, revises the existing legal framework and facilitates the development of renewable energy sources. The E.U. - funded NSRF (National Strategic Reference Framework) 2007–2013 financially supports this usage of RES, in accordance with the targets set by the National Renewable Energy Action Plan. U.S. firms may consult the following official GMEECC website for additional information on Greece’s National Renewable Energy Action Plan: :http://www.ypeka.gr/LinkClick.aspx?fileticket=CEYdUkQ719k%3D&tabid=37

U.S. manufacturers and suppliers of wind energy (and related) systems, components, equipment and services will find major opportunities to expand their business in Greece. It is strongly recommended that U.S. firms collaborate with a Greek distributor or other partner when selling to the Greek market. U.S. energy companies are known in Greece for the high quality, durability and low maintenance costs of their equipment. U.S. firms with specific market knowledge of the energy industry may also want to consider direct investments, forming local partnerships (e.g. Public – Private Partnerships, or PPPs or participating in joint ventures.

All products imported into Greece must be manufactured according to E.U. Standards, have the CE Mark, and meet E.U. environmental and safety requirements.

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Posted: 23 March 2011, last updated 23 March 2011

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