RWE and ELPE join forces to develop offshore wind energy

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RWE and Hellenic Petroleum Group, through their respective subsidiaries RWE Renewables GmbH and ELPE Renewables SA, are joining forces to jointly explore opportunities for the development and exploitation of offshore wind energy in Greece. The Terms of Cooperation of the 50-50 joint venture were recently signed by the two companies, with the aim of their cooperation in the development, implementation and operation of offshore wind farms in the Greek seas. This cooperation becomes even more important when considering Greece’s goal to commission 2 Gigawatts (GW) of offshore wind power by 2030, both with fixed-site projects and with floating wind turbines.

THE George Alexopoulos, Executive Member of the Board of Directors of Hellenic Petroleum Holdings and CEO of ELPE Renewables, said: “The collaboration with RWE Renewables, a world leader in offshore wind energy, is an important pillar in the implementation of the strategic program “Vision 2025″, for the energy transformation of the Group. Specifically , this initiative is expected to contribute significantly to the achievement of the Group’s strategic goal of installing 2 GW of renewable power sources by 2030. We believe that our country has a great opportunity to develop the offshore wind energy sector and, as HELLENIC PETROLEUM, we intend, with RWE as a partner, to lead this effort”.

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From the side of Sven UtermöhlenManaging Director of Wind Offshore at RWE Renewables, explains: “The country’s exceptional wind potential, combined with its extensive coastline, present enormous potential for the development of offshore parks. We are confident that offshore wind energy will be a key pillar of the development of the Greek industry. The complementarity of our partnership with HELLENIC PETROLEUM, is the key to creating value that accelerates the development of offshore wind farms in the Greek seas. HELLENIC PETROLEUM, with excellent know-how and a long history in Greece, shares our ambition to promote offshore wind energy. Combined with RWE’s over 20 years of experience in the development, construction and operation of offshore wind projects, we are able to provide competitive green energy from offshore wind farms to Greek society.”

THE Kostas PapamantellosCEO of RWE Hellas, adds: “RWE already has a presence in Greece and offshore wind energy expands, even more, our already existing solar footprint. We are committed to continuing to play an important role in Greece’s energy transition and we are, also excited to enter into this partnership with HELLENIC PETROLEUM for the development of wind farms off the Greek coast.

Complementary skills in offshore development and domestic market experience

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The partnership of the two companies, RWE and HELLENIC PETROLEUM, adds value due to the know-how each has in its sector and, together, will make possible the creation of a competitive offshore wind energy market in Greece.

RWE is a world leader in renewable energy and is able to contribute the technical and commercial expertise it has acquired from the development and operation of 18 offshore wind farms in five countries, while it will move decisively forward with offshore wind energy in Greece as well. By 2030, RWE intends to develop its offshore wind capacity, from the existing 3 GW, to 8 GW (the capacity represents only RWE’s share). In addition, RWE aims to become a leader in floating wind farms and have 1 GW of capacity, 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, commissioned off Norway in 2021.

As one of the largest energy companies in Southeast Europe, based in Athens and with a presence in six countries, HELLENIC PETROLEUM has deep knowledge of the Greek and regional energy market, strong links with energy industry players and is able to provide a strong management and expertise. ELPE Renewables currently has approximately 300 MW in operation, including the 204 MW of the Kozani Photovoltaic Park, the largest park with double-sided photovoltaic panels in Europe, while at the same time developing a series of photovoltaic and wind projects that will exceed 2 GW .

Source: Capital

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