New Partnership Announces Plans for First Offshore Wind Farm in Greece

A new partnership between two leading Greek companies has unveiled plans for the first offshore wind farm in Greece. This partnership, formed between Terna Energy and Greek conglomerate Motor Oil, marks a significant step in Greece’s renewable energy sector.

Terna Energy, with over two decades of experience in the renewable energy sector, boasts the largest and most diversified portfolio of projects in Greece, totaling 2,500 MW in operation, under construction, and ready for development. The company’s commitment to sustainability is evident in its current 1,224 MW installed capacity, with plans to reach 6 GW by 2029.

In 2023, Terna Energy secured permits for exploration and survey work for two pilot offshore wind projects in the Thracian Sea, indicating the company’s long-term vision for offshore wind development in Greece.

The joint venture between Terna Energy and Motor Oil has selected a site south of Alexandroupolis for the first offshore wind farm. This location, situated in northeast Greece near the Turkish border and the entrance to the Sea of Marmara, is primed for the development of a 400 MW wind farm, set to be operational by the end of 2030.

Government Support and Strategic Planning

The Greek government’s strategic plan, released in October 2024 by the Hellenic Hydrocarbons and Energy Resources Management Company, outlines 25 designated areas spanning over 2,700 square kilometers for offshore wind development. These areas have the potential to generate at least 12.4 GW of energy, with the first 10 sites targeted for development between 2030 and 2032. The government anticipates that most of these sites will utilize floating technology, becoming operational between 2025 and 2032.

Greece’s renewable energy goals include reaching 2 GW of offshore capacity, representing a significant expansion from its current onshore capacity. With 898 MW of onshore capacity added in the past four years, Greece is poised to accelerate its renewable energy development, with the Hellenic Wind Energy Association forecasting increased momentum in 2025 as projects progress into the construction phase.