RWE Partners with Hellenic Petroleum on Offshore Wind Development in Greece

July 5, 2022, by Adnan Memija

RWE and Hellenic Petroleum Holdings, through their subsidiaries RWE Renewables and HELPE Renewables, have teamed up to explore offshore wind opportunities in Greek waters.

Through the 50:50 partnership, the companies aim to collaborate on the development, construction, and operation of offshore wind farms off the coast of Greece.

RWE plans to contribute to this partnership with its technical and commercial expertise gained from the realisation and operation of 18 offshore wind farms in five countries to forge ahead with offshore wind in Greece, while Hellenic Petroleum possesses in-depth knowledge of the Greek and regional energy markets and could provide strong local management and expertise, the partners said.

“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”, said Sven Utermöhlen, CEO of Wind Offshore at RWE Renewables.

“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”.

Greece targets 2 GW of offshore wind by 2030 for both fixed-bottom and floating projects, and has been working on its legislative framework to achieve this since last year.