Hellenic Petroleum Forms Partnership with RWE to Develop Offshore Wind Farms


RWE and Hellenic Petroleum Holdings, through their respective subsidiaries RWE Renewables Gmbh and HELPE Renewables SA, are jointly exploring offshore wind opportunities in Greek waters.

“The cooperation 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,” says George Alexopoulos, executive member of the board of directors of Hellenic Petroleum Holdings and CEO of HELPE Renewables. “In particular, this initiative is expected to make a significant contribution to the realization 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.”

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.

“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,” comments Sven Utermöhlen, CEO of wind offshore at RWE Renewables. “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,” continues Utermöhlen. “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.”

“RWE is already present in Greece and offshore wind expands on our solar footprint,” adds Costas Papamantellos, CEO of RWE Renewables Hellas. “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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