The Ocean Winds (OW) joint venture between EDP Renewables and Engie has signed a collaboration deal with Greek energy firm Terna Energy that aims at developing a massive pipeline of floating wind projects in Greek seas.

OW and Terna will first identify the most suitable areas and then develop a pipeline of more than 1.5GW with a consistent development roadmap rolled out throughout the current decade, Terna said.

“We are proud to announce our strategic partnership with Terna Energy that makes a substantial contribution to our growth strategy in new but promising markets as Greece,” Ocean Winds chief executive Spyros Martinis said.

“We have been monitoring the strong fundamentals of the Greek offshore market and its potential to become one of the most important in the Mediterranean Sea.”

Greece has no offshore wind turbine in the water yet, and because of its mostly deep seas is mainly apt for floating wind as opposed to bottom-fixed.

Ocean Winds currently has a portfolio of 1.5GW in projects under construction, and 4GW under development. The JV targets to reach 5-7GW of projects in operation or under construction and 5-10GW in advanced development stages by 2025.

It is part of EDPR’s ambition to double its renewable energy capacity to 40GW by 2025, and then expand that further to 70GW by 2030, as the company said in its strategic update last week.

Terna currently has more than 1.8GW in renewable energy in operation, under construction or ready for construction in Greece and abroad. The company is operating a 73MW wind farm on the remote island of Aghios Georgios Island in the Aegean that it says functions like a semi-offshore plant, and supplies power to the Greek mainland via a submarine cable.

“Terna Energy, in our long commitment to provide clean and renewable energy in Greece, has identified that the next step towards sustainability is the development of offshore wind farms,” Terna chairman George Peristeris said.

“Floating offshore wind is ideal for the Greek seas, due to their depth and unique characteristics.”

Wind

'Ideal for the Greek seas': Ocean Winds and Terna eye 1.5GW of floating wind