RWE and HELLENIC PETROLEUM join forces to develop offshore wind power in Greece

•    Partners aim to collaborate on the development, construction and operation of wind farms off the Greek coast
•    HELLENIC PETROLEUM adds its extensive experience within the Greek energy sector and its commitment to expand its portfolio in Renewable Energy Sources
•    RWE contributes its extensive technical and commercial expertise from a track record of more than 20 years in offshore wind energy. 


RWE and HELLENIC PETROLEUM, through their respective subsidiaries RWE Renewables GmbH and ELPE Renewables SA, join forces to jointly explore offshore wind energy 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 gigawatts (GW) of offshore wind capacity in operation by 2030 – for both fixed-bottom and floating projects.

Complementary competences in offshore development and local market experience

Due to each company's expertise in its respective fields, the partnership between RWE and HELLENIC PETROLEUM offers value and will enable the development of a competitive offshore wind energy market in Greece.

RWE is a leading global player in RES and is able to contribute its technical and commercial expertise gained from the development and operation of 18 offshore wind farms in five countries, while it will boldly move forward with offshore wind in Greece. By 2030, RWE intends to grow its  offshore wind capacity from currently 3 GW to 8 GW (capacity represents RWE's share only). Furthermore, RWE  also aims  to become a leader in floating wind farms and to have 1 GW either in operation or under construction by 2030. RWE is already involved and has developed expertise in multiple floating projects in Norway, Spain and in the US, each based on different ideas.The most advanced project is the TetraSpar Demonstrator project, which was commissioned off the Norwegian coast in 2021.

As one of the largest energy companies in the South-East European region, headquartered in Athens and present in six countries, HELLENIC PETROLEUM has in-depth knowledge of the Greek and regional energy markets, strong relationships with key stakeholders and is well positioned to provide strong local management and expertise. ELPE Renewables has currently 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.