Copenhagen Infrastructure Partners (CIP) is teaming up with Greek engineering conglomerate Mytilineos to develop offshore wind farms off the Mediterranean country.
They will focus on identifying appropriate sites, co-developing and co-investing in floating wind farms through a 60:40 partnership, with CIP holding the majority stake in the projects.
However, CIP’s subsidiary Copenhagen Offshore Partners — which is developing offshore wind farms off Germany, the UK, Taiwan, the US, Australia, Japan, South Korea and Vietnam — will lead project development.
CIP partner Michael Hannibal said the Greek offshore wind market will be dominated by projects with floating platforms rather than fixed-bottom foundations due to the depth of Greek seas.
Neither party has disclosed any capacity targets for the joint venture.
The Greek government is preparing to unveil a framework for offshore wind this summer and sees the technology representing a significant but not yet quantified portion of its 2030 power mix.
EDPR and Engie — through their Ocean Winds joint venture — are teaming up with Greek developer for 1.5GW of floating offshore wind projects off Greece. Equinor and Principle Power are among other companies exploring development opportunities.