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Swedish offshore wind developer Hexicon has created a joint venture (JV) company in Greece with local company EAMAA.

Named Hexicon Power, the JV will focus on developing floating offshore wind projects off the coast of Greece.

Its creation comes ahead of the launch of Greece’s new legal framework for offshore wind this year.

Hexicon formed the JV as part of its strategy to be an ‘early-stage developer’ in key markets worldwide by collaborating with partners and local companies.

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

“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.”

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By GlobalData

Hexicon noted that the move will support Greece’s plan to increase its renewable energy generation capacity through offshore wind parks, as well as reduce its dependence on fossil fuels.

The country plans to generate 60% of its electricity from renewable sources by 2030.

Hexicon Power will be led by its newly appointed CEO Mikelis Chatzigakis.

Chatzigakis said: “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 (in) reaching its full potential.”

Last September, CoensHexicon, a JV between Hexicon and South Korean company Coens, started a JV called MunmuBaram with Shell Overseas Investment.

MunmuBaram will develop and operate a 1.4GW floating offshore wind project in South Korea, located between 65km and 80km offshore from Ulsan.

Shell holds an 80% stake in the JV company, with CoensHexicon owning the remaining 20% interest.