OCEAN WINDS and TERNA ENERGY forge floating collaboration.

OCEAN WINDS (OW, a Joint Venture between EDP Renewables and ENGIE) and TERNA ENERGY have signed a collaboration agreement to co-develop floating offshore wind projects in the Greek seas.

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.

OW has a portfolio composed of 1.5 GW under construction and 4 GW under development, and with the target of reaching 5 to 7 GW of projects in operation or under construction and 5 to 10 GW in the advanced development stages by 2025. OW's portfolio includes bottom-fixed and floating offshore wind projects under development,  construction, and operation located in several markets across Europe, North America and Asia.

TERNA ENERGY has more than 1.8 GW in operation, under construction or ready for construction in Greece and abroad. A flagship project for the company is the investment in a wind farm in the Greek territory, the semi-offshore project of St. George Island. The company developed, constructed and is currently operating it.

Spyros Martinis, CEO of Ocean Winds, said: “We are proud to announce our strategic partnership with TERNA ENERGY that makes a substantial contribution to our growth strategy in new but promising markets as Greece. At the same time, the sound and international experience of OW in conjunction with TERNA ENERGY´s local presence and leadership place this consortium into the pole position.

"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.

"To that end, TERNA ENERGY is proud to announce the strategic partnership with OW, whose unparalleled experience in the offshore wind sector and the development of floating wind farms will help us establish this new sector in the Greek energy market.

"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.”

3 March 2021

4C Offshore