RWE and Hellenic Petroleum to explore offshore wind potential in Greece

4C Offshore | Tom Russell
By: 05/07/2022 RWE

RWE and Hellenic Petroleum Holdings, through their respective subsidiaries RWE Renewables Gmbh and HELPE Renewables SA, have joined forces to explore offshore wind opportunities in Greek waters.

Corresponding terms of the 50-50 partnership were signed recently between the two companies, with the aim to collaborate on the development, construction and operation of offshore wind farms off the Greek coast.

George Alexopoulos, Executive Member of the BoD of Hellenic Petroleum Holdings and CEO of HELPE Renewables stated: “The cooperation with RWE Renewables, a global leader in offshore wind, constitutes an important element in the implementation of our ‘Vision 2025’ strategic transformation process of the Group. In particular, this initiative is expected to make a significant contribution to the realisation of the Group’s strategic target of 2 GW of installed renewables capacity by 2030. We believe that our country has excellent potential for the development of a thriving offshore wind sector and we aim, together with our partner RWE, to lead this effort.”

Sven Utermöhlen, CEO Wind Offshore of RWE Renewables, explained: “The country’s excellent wind resource in combination with its long coast line result in a vast potential for offshore wind developments, which makes us confident that the Greek offshore wind industry will gain real momentum. The complementary nature of our partnership with Hellenic Petroleum is the key to developing a value proposition that accelerates the offshore wind build-out off the Greek coast. Hellenic Petroleum is deeply rooted locally and shares our ambition to drive the growth of offshore wind. Combined with RWE’s track record of more than 20 years in developing, constructing and operating offshore wind projects, we are well placed to supply competitive green energy from offshore wind to the Greek market.”

Costas Papamantellos, CEO of RWE Renewables Hellas, adds: “RWE is already present in Greece and offshore wind expands on our solar footprint. We are committed to continue playing an important role in Greece’s energy transition, and we are very excited to also form a partnership with Hellenic Petroleum to develop wind farms off the Greek coast.”

Hellenic Petroleum is one of the largest energy companies in the south-eastern European region, headquartered in Athens and present in six countries. HELPE Renewables has currently almost 300 MW in operation, including the 204 MW Kozani PV plant, the largest bifacial PV plant in Europe, and is developing a PV and wind project pipeline in excess of 2 GW.

RWE currently operates 18 offshore wind farms in five countries with a total capacity of around 3 GW (RWE pro-rata share). Currently, RWE is constructing the 342-MW project Kaskasi off the German island Heligoland and its 1,4 GW project Sofia, one of the largest offshore wind farms in the world. More than 10 GW of secured capacity are also under development.

For more information on offshore wind farms worldwide, click here.