Motor Oil and Masdar’s Terna Energy Join Forces for Greece’s First Offshore Wind Farm

January 28, 2025, by Adnan Memija

Greece’s Motor Oil and Terna Energy, a subsidiary of Masdar Group, have teamed up for the development of the first offshore wind farm in Greek waters.

The procedures for the participation of the Motor Oil Group, through its subsidiary Motor Oil Renewable Energy (MORE), with a 50 per cent stake in the company holding the rights to the project, have been completed. The remaining 50 per cent of the project company, named Aioliki Provata Traianoupoleos, is held by Terna Energy.

The proposed offshore wind farm is planned to be built in the sea area south of Alexandroupolis and north of Samothrace. The 400 MW project is expected to be completed by the end of 2030.

The wind farm will be the first of its kind in Greece, contributing to the success of the National Offshore Wind Farm Development Program, said Terna Energy.

In 2023, the company secured three-year permits to carry out exploratory and survey work for two pilot offshore wind projects in the Thracian Sea.

The licences, granted as part of Greece’s offshore wind development plan, apply to two locations with a total potential capacity of 600 MW.