Ocean Winds and TERNA ENERGY to Collaborate on Floating Offshore Wind in Greece

OCEANS WINDS and TERNA ENERGY will join forces to identify the most suitable areas off the coast of Greece and consequently develop a pipeline of projects in excess of 1.5 GW with a consistent development roadmap rolled out throughout the current decade.

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, added: “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.”

OCEAN WINDS already has a portfolio of 1.5 GW under construction and 4 GW under development which includes bottom-fixed and floating offshore wind projects located in several markets across Europe, North America and Asia. WindFloat Atlantic is still the first and only project to have structured non-recourse external financing.

TERNA ENERGY has more than 1.8 GW in operation, under construction or ready for construction in Greece and abroad.