Hexicon and EAMAA Start Floating Wind Venture Offshore Greece

Swedish floating wind specialist Hexicon has created a joint venture, Hexicon Power SA, with Greece’s EAMAA, described as a first step to start the development of floating offshore wind projects off the coast of Greece.

A new legal framework for offshore wind is expected this year and Hexicon is now set to establish a presence in the area, the company said.

”Greece has great potential for floating offshore wind power with some of the best winds in Europe,” said Marcus Thor, CEO at Hexicon.

In line with the country’s overall economic recovery strategy, Greece now seeks to promote renewables, including offshore wind farms, to reduce its traditional reliance on fossil fuels and increase its share of clean energy sources. 

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The Greek government has made green energy one of its top priorities by implementing a new national plan and setting some of the most ambitious goals in the EU, such as generating 60 per cent of its electricity mix from renewable sources by 2030, Hexicon said.

”This is an important strategic move for us. We see great opportunities in Greece as they embark on the journey from fossil-fuels to renewables,” Thor said.

The joint venture is said to be in line with Hexicon’s strategy as an early-stage developer in key markets globally, where the company teams up with partners and local companies. The joint venture is a starting point for working together on several projects that will complement each other.

The Greek team has the operational, legal, and technical know-how, as well as a local network that matches Hexicon’s expertise in floating wind power technology, Hexicon said.

The project will be led by Mikelis Chatzigakis, CEO of Hexicon Power. Chatzigakis has served as a special advisor to the current Vice – President of the conservative party now in government and former Greek Minister of Energy. Also, prior to joining Hexicon, Chatzigakis was the COO of Cobblestone Energy, a British electricity trading firm, and a former management consultant at the Boston Consulting Group. The President of the Board will be Alexander Singer.

”We hope that Hexicon’s advanced technology in floating wind power will be a strong driving force in supporting Greece’s clean energy future. Our floating wind technology can produce high energy output with limited environmental impact. Greece has enormous opportunities in offshore wind and we are committed to assisting the country reaching its full potential,” Chatzigakis said.

Hexicon has its own patented technology – TwinWind – which consists of a floating foundation with two turbines. The twin-turbine design is said to enable more turbines per sea area, which increases the energy yield and reduces the environmental impact.

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Photo: Hexicon