Dedicated SPV established for pre-construction offshore investigations
Greece has established a dedicated special purpose vehicle (SPV) to manage the technical surveys and seabed investigations required before construction of its first commercial offshore wind farms can begin. The SPV was created by the Hellenic Hydrocarbons and Energy Resources Management Company (EDEYEP). It will carry out wind measurements, marine studies, and seabed analysis across selected offshore zones. These studies are intended to support technical feasibility work for future offshore wind projects.
At launch, EDEYEP is the sole shareholder of the SPV. The ownership structure is expected to broaden as the programme advances. Potential future participants include ADMIE, financial institutions, and private sector developers involved in Greece’s National Offshore Wind Programme, including Hellenic Cables.
Initial survey zones and estimated capacity potential
The first survey campaign will focus on offshore areas near Evia, Gyaros, eastern Crete, and Rhodes. Together, these zones are estimated to have the potential to support around 1.3 GW of offshore wind capacity. Pilot projects planned near Alexandroupoli are not included in this initial phase.
RRF deadline and funding priority for survey work
A key factor behind the creation of the SPV is compliance with requirements under Greece’s Recovery and Resilience Facility (RRF). The RRF sets a deadline of 30 June for establishing the company. While the corporate structure remains under development, authorities have highlighted that securing funding for the survey work is the immediate priority. They also said completing the technical studies on time is critical for maintaining progress on the wider offshore wind roadmap.
The launch of the SPV is being treated as an indication that Greece’s offshore wind approach is moving from planning toward early implementation. Investors are still seeking a more detailed and transparent timeline covering both the survey campaign and subsequent development steps. Those later stages include licensing and project execution.
