Will energy light the path out of Greece’s crisis?

Will energy light the path out of Greece’s crisis?

The Greek Regulatory Authority for Energy (RAE) recently granted approval to City Electric S.A. to build one of the largest offshore wind farms in the world. This ambitious endeavor will be built on the island of Lemnos in the northeastern Aegean. The project, a first of its kind in Greece, will eventually be linked to the national energy grid, possibly providing countless villages and towns with the energy needed to grow their local economies.

Construction will cost roughly 2 billion euros ($2.5 billion) and includes the installation of 81 wind turbines, each with a rated power of 6.15MW. These turbines will generate enough electricity for more than half a million Greek households.

Greece’s cutting-edge offshore wind farm will also be environmentally friendly and produce 1,692.3 GWh of “green” electric power annually. The project is estimated to cut carbon dioxide emissions by roughly 1.7 tons per year.

The project won’t just benefit Greek people in surrounding areas with local jobs and locally produced electricity. The offshore wind farm will also increase biodiversity in the sea by providing a new, natural habitat for organisms living on the sea bed. One Dutch study has found that such offshore wind turbines help to protect schools of cod and marine mammals and don’t endanger birds since they tend to avoid them.

Greece’s new offshore wind farm project will also contribute to Greece meeting its Renewable Energy Sources (RES) national targets by 2020.