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RWE and Hellenic Petroleum to jointly develop offshore wind in Greece

Leading global player in renewables RWE and one of the largest energy companies in the south-eastern European region, Hellenic Petroleum Holdings joined forces to jointly explore offshore wind opportunities in Greek waters.

Corresponding terms of the 50-50 partnership were signed between the two companies, with the aim to collaborate on the development, construction and operation of offshore wind farms off the Greek coast. This partnership gains additional significance in light of Greece’s current target of 2 gigawatts (GW) of offshore wind capacity in operation by 2030 – for both fixed-bottom and floating projects.

“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,” said George Alexopoulos, Executive Member of the Board of Directors of Hellenic Petroleum Holdings and CEO of its subsidiary, HELPE Renewables. “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 of Wind Offshore at RWE Renewables, noted the country’s excellent wind resource in combination with its long coastline which results in vast potential for offshore wind developments.

“RWE is already present in Greece and offshore wind expands on our solar footprint,” added Costas Papamantellos, CEO of RWE Renewables Hellas. “We are committed to continuing 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.” 

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