Greece Wind Energy Market Size (2024 - 2029)

Greece Wind Energy Market Size Summary

The Greek wind energy market is poised for growth, driven by increasing demand for renewable energy installations and significant investments in wind projects. Despite challenges posed by the COVID-19 pandemic, such as delayed licensing and manpower shortages, the market is expected to expand, with the onshore segment leading the charge. Greece's National Energy and Climate Plan aims to install substantial wind energy capacity by 2030, creating opportunities for market development. However, the rising focus on solar energy, due to Greece's favorable solar conditions and lower land costs, poses a challenge to the wind energy sector's growth. Solar energy has been attracting major investments, supported by government policies and a robust project pipeline, which could potentially hinder the wind energy market's expansion.

The wind energy sector in Greece is moderately fragmented, with key players like Iberdrola SA, Vestas Wind Systems AS, and Siemens Gamesa Renewable Energy SA actively participating in the market. Recent developments include significant projects and investments, such as Terna Energy's wind projects and Iberdrola's turbine supply contract, which underscore the sector's potential. However, the solar energy sector's rapid growth and the government's commitment to increasing solar capacity by 2030 are expected to maintain solar's dominance in the renewable energy mix. This dynamic landscape suggests that while wind energy will continue to grow, it may face challenges in keeping pace with the burgeoning solar energy sector in Greece.