Dedicated SPV created for technical survey work
Greece has established a dedicated company to manage the technical surveys and seabed investigations needed before construction of its first commercial offshore wind farms can begin. The new special purpose vehicle (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. The resulting studies are intended to support technical feasibility assessments for future offshore wind projects.
At launch, EDEYEP is the sole shareholder. The ownership structure is expected to broaden as the programme progresses. Potential future participants include ADMIE, financial institutions, and private sector developers connected to Greece’s National Offshore Wind Programme, including Hellenic Cables.
Scope and geography of the initial survey campaign
The first survey campaign will target offshore areas near Evia, Gyaros, eastern Crete, and Rhodes. Together, these zones are estimated to support around 1.3 GW of offshore wind capacity. Pilot projects planned near Alexandroupoli are not included in this initial phase.
Recovery and Resilience Facility deadline for establishment
A key factor behind setting up the SPV is compliance with requirements under Greece’s Recovery and Resilience Facility (RRF). The RRF rules set a deadline of 30 June for establishing the entity. While the corporate structure is still being developed, authorities have highlighted that securing funding for the survey work is the immediate priority.
Investors are seeking additional detail on how the survey campaign will proceed and how it will connect to later development steps. They are also requesting greater transparency around subsequent stages, including licensing and project execution. The SPV launch is being treated as an early implementation signal within Greece’s offshore wind planning-to-delivery process.
