Terna Energy, a subsidiary of Masdar Group, has teamed up with Motor Oil for the development of first offshore wind farm in Greece.
The procedures for the participation of the Motor Oil Group, through its subsidiary Motor Oil Renewable Energy (MORE), with a 50% stake in the share capital of Aioliki Provata Traianoupoleos, a subsidiary of TERNA ENERGY Group, have been completed.
Aioliki Provata Traianoupoleos has the right to develop a pilot offshore wind farm, with a capacity of 400 MW in the sea area south of Alexandroupolis and north of Samothrace.
The project, with a completion horizon by the end of the current decade, will be the first of its kind in Greece, significantly contributing to the success of the National Offshore Wind Farm Development Program.
Additionally, it will highlight the benefits of offshore wind farms to the national and local economy, as well as the harmonious coexistence of such projects with sectors such as shipping and tourism.