Ocean Winds, a joint venture of EDP Renewables and Engie, has signed a collaboration agreement with Terna Energy for development of offshore wind projects in Greece. As part of the agreement, the companies will identify the most suitable areas in the Greek seas for co-development of floating offshore capacity. They together plan to develop a pipeline of over 1.5 GW capacity according to their development roadmap for the current decade.

Ocean Winds has 1.5 GW of offshore wind projects under construction and 4 GW under development. It has a target to reach 5 to 7 GW of projects in operation or under construction by 2025 with another 5 to 10 GW in the advanced development stages. Its projects are spread across several markets in Europe, North America and Asia and include bottom fixed as well as floating offshore wind.  

Terna Energy is a Greek renewable energy company with more than 1.8 GW of capacity in operation, under construction or ready for construction in Greece and abroad. The company has also developed, constructed and is currently operating the innovative semi-offshore project of St. George Island in the Greek territory.

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 Ocean Winds in conjunction with Terna Energy´s local presence and leadership place this consortium into the pole position.” 

George Peristeris, President 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 Ocean Winds, 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.”