Ocean Winds, Terna Energy Looking to Build Floating Wind Farms Offshore Greece

Ocean Winds, a JV created by EDP Renewables and Engie last year, has signed a deal with Terna Energy to work on the development of floating offshore wind projects in the Greek seas.

Ocean Winds, which has an offshore wind portfolio comprised of 1.5 GW under construction and 4 GW under development, also has a floating offshore wind experience with its WindFloat Atlantic project, offshore Portugal.

Terna Energy is a renewable energy company with more than 1.8 GW in operation, under construction or ready for construction in Greece and abroad. 

According to a statement released Tuesday, Terna Energy's flagship project is the investment "in the innovative and most demanding wind farm in the Greek territory, the semi-offshore project of St. George Island."

"Both companies, with essential and complementary capabilities, share a common view with regards to the potential and the suitable road map for the development of offshore wind in Greece. OW and Terna Energy, will join forces to identify the most suitable areas and consequently develop a pipeline of projects in excess of 1.5 GW with a consistent development roadmap rolled out throughout the current decade," Ocean Winds said.

Spyros Martinis, CEO of Ocean Winds, 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 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."

George Peristeris, Chairman of TERNA ENERGY, said: “Terna Energy, in our long commitment to provide clean and renewable energy in Greece, has identified that the next step towards sustainability is the development of offshore wind farms. Floating offshore wind is ideal for the Greek seas, due to their depth and unique characteristics.

"Together, we will be able to provide the Greek energy sector with the necessary capacity of  sustainable energy to achieve our national energy targets. At the same time, we will add value to multiple economic sectors of the local economy, by providing new investments in shipyards, ports grid interconnections and other sectors that will boost the local economy and create multiple direct and indirect jobs.”