Companies plan to develop a pipeline of projects with a total capacity of over 1.5GW in Greek seas
Ocean Winds has joined forces with Greek renewable energy company Terna Energy to co-develop floating offshore wind projects in Greece.
The companies have signed a collaboration agreement to develop a pipeline of projects with a total capacity of more than 1.5GW.
Prior to that, Ocean Winds and Terna Energy will jointly identify the most appropriate areas in Greek seas for their floating offshore wind projects.
Ocean Winds CEO Spyros Martinis said: “We have been monitoring the strong fundamentals of the Greek offshore market and its potential to become one of the most important in the Mediterranean Sea.
“The ambitious renewable energy sources (RES) targets, excellent wind conditions, growing grid availability and strong industrial and maritime tradition are a few of the key elements that confirm the market´s attractiveness.”
Ocean Winds is a 50:50 offshore wind joint venture between Spanish renewable energy company EDP Renewables and French electric utility Engie.
Its portfolio is made up of 1.5GW under construction and 4GW under development.
By 2025, Ocean Winds aims to reach 5-7GW of projects in operation or under construction and 5-10GW in the advanced development stages.
Its portfolio includes bottom-fixed and floating offshore wind projects that are either in development, construction, or in operation. The assets are located across Europe, North America, and Asia.
Terna Energy, on the other hand, has a portfolio of over 1.8GW renewable projects in operation, under construction, or ready for construction in Greece and in other countries.
In September 2019, Tri Global Energy (TGE) announced that Terna Energy has started commercial operations at the 158MW Gopher Creek Wind Energy project in Texas, US.
The wind farm represents the second phase of the 313MW Fluvanna Wind Energy Project.
TGE sold the Fluvanna project to Terna Energy in 2016.