Greece Launches First Offshore Wind Farm with Terna Energy and Motor Oil Partnership

A new partnership between Greek companies Terna Energy and Motor Oil has announced plans for the first offshore wind farm in Greece. This initiative is part of the Greek government’s strategy to expand its successful onshore wind program to floating wind farms. Terna Energy, with over two decades of experience in the sector, has the largest and most diversified portfolio of projects in Greece, with 2,500 MW in operation, under construction, and ready for development. The company aims to reach a total installed capacity of 6 GW by 2029.

Terna Energy secured permits in 2023 for exploration and survey work on two pilot offshore wind projects in the Thracian Sea, with a potential capacity of 600 MW. The joint venture between Terna Energy and Motor Oil has selected a site south of Alexandroupolis for the first offshore wind farm, with plans to develop a 400 MW wind farm by the end of 2030. This aligns with the draft strategy released by the Hellenic Hydrocarbons and Energy Resources Management Company, which identified 25 areas totaling over 2,700 square kilometers that could provide at least 12.4 GW of capacity.

Greece aims to expand its renewable energy capacity, setting an initial goal of 2 GW from offshore sources, about one-tenth of its onshore capacity. In the past four years, Greece has added 898 MW of onshore wind capacity. The Hellenic Wind Energy Association expects an acceleration in project development in 2025 as projects mature and enter the construction phase. The government’s plan targets the development of offshore wind sites using floating technology, with most sites expected to become available between 2025 and 2032.

Source