Greece Wind Energy Market May Post Lowest Growth Since 2004

Greece may post the lowest increase in wind-powered electricity capacity since 2004 this year as companies cut investments amid restrictive government policies, the Hellenic Wind Energy Association said.

Installed capacity rose by 45.05 megawatts in the first five months of the year to 1,793.4 megawatts, putting it on track for the lowest growth rate since 2004, the Athens-based association said today in an e-mailed statement. Capacity grew 7 percent in all of 2012 and by 24 percent in the previous year, the association said in January.

Wind investors have been hit by the Greek government’s decision to impose an extraordinary levy on company revenue, to require guarantees, to impose a fee on operating licenses and to exclude wind energy investments from capital subsidies from 2014, the trade body said.

Electricite de France SA was the biggest producer of wind energy in Greece in the January-to-May period, accounting for 298.8 megawatts or almost 17 percent of total production, according to the statement. Iberdrola Renovables SA’s Greek unit, Rokas Renewables, was the second-largest producer with 250.7 megawatts and Terna Energy SA was third with 241.5 megawatts.

Enel Green Power SpA and Ellaktor SA made up the rest of the top five producers. Vestas Wind Systems A/S accounted for 49 percent of wind turbines installed in Greece in the period and Enercon GmbH for 22 percent.

To contact the reporter on this story: Paul Tugwell in Athens at ptugwell1@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

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