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Greek renewable energy company Terna Energy has teamed up with compatriot energy group Motor Oil to jointly develop the first offshore wind farm in Greece. The Motor Oil Group, through its subsidiary Motor Oil Renewable Energy or MORE for short, acquired a 50% stake in the share capital of Aioliki Provata Traianoupoleos, a subsidiary of Terna Energy. The Terna subsidiary has the right to develop a pilot offshore wind farm with a capacity of 400MW south of Alexandroupolis and north of Samothrace. This project should be completed by the end of the current decade and will contribute to the success of the National Offshore Wind Farm Development Program. Terna Energy and MORE are two of the country’s most prominent wind and renewables developers. Terna currently has 1,197MW of wind, albeit onshore, in operation while MORE operates over 830MW of renewables projects. |
