Wind Power

06 Jul 2022

RWE and Hellenic Petroleum Collaborate to Develop Offshore Wind Farms

06 Jul 2022  by   
RWE and Hellenic Petroleum Holdings, through their respective subsidiaries RWE Renewables GmbH and HELPE Renewables SA, have joined forces to jointly 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. This partnership gains additional significance in light of Greece’s current target of 2 GW of offshore wind capacity in operation by 2030 – for both fixed-bottom and floating projects.

George Alexopoulos, Executive Member of the BoD of Hellenic Petroleum Holdings and CEO of HELPE Renewables, stated: “The co-operation 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, added: “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.”


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