July 31, 2025
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With 152 MW of wind power installed in H1 2025, Greece continues low trajectory

Just 152.2 MW of wind farms were installed in Greece in the first half of 2025, thus continuing the low trajectory of recent years.

According to the Hellenic Wind Energy Association (HWEA or ELETAEN), total wind capacity in the country reached 5,507 MW at the end of June. In the first six months of the year, 37 new wind turbines were installed in Greece, with a capacity of 152.2 MW, representing a total investment of EUR 180 million.

New capacity doubled compared to the same period of 2024, but is not enough to support a more balanced renewable mix, HWEA said. In comparison, photovoltaics consistently add similar capacity in just one month on average.

The association also mentioned that currently there is 1 GW of wind projects under construction, or contracted. The majority are expected to launch operations within the next 18 months. There is another 300 MW selected through auctions for which letters of guarantee were submitted, and it is expected to reach completion. As a result, total capacity is projected to reach 6.5 GW within the period.

HWEA: Red tape is delaying 846 MW of wind projects

HWEA stressed that due to red tape, the construction of over half of the wind power capacity awarded at renewable energy auctions in the period 2018-2022 has been delayed. Namely, 1.592 MW was selected, but just 746 MW is operational today.

“If they had been completed on time, these wind projects, with a total capacity of 846 MW, would have provided more cheap energy and permanent relief to Greek consumers and the national economy,” HWEA pointed out.

Terna Energy and Vestas lead the pack

When it comes to wind energy’s geographical dispersion, Central Greece (Sterea Ellada) leads with 2.427 MW, followed by 709 MW in the Peloponnese and 535 MW in Eastern Thrace.

The top 5 market players are Terna Energy (1,034 MW – 18.8%), owned by Masdar, Motor Oil Hellas’s subsidiary MORE (774 MW – 14.1%), Iberdrola Rokas (409 MW – 7.4%), Principia (368 MW – 6.7%) and PPC Renewables (308 MW – 5.6%), which operates within state-controlled Public Power Corp. or PPC).

The most prominent wind turbine suppliers are Vestas, with 45.1% of the market, followed by Enercon, with 25.7%, and Siemens Gamesa, with 16.4%. They are trailed by Nordex, with 7.6%, GE Renewable Energy (now GE Vernova), with 3.7%, and EWT, Goldwind and Leitwind.

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June 12, 2025
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EDPR reportedly exiting Greece as all power plants, projects are on sale

EDP Renewables (EDPR) is about to divest of all its assets in Greece and leave next year, according to the domestic media. Market-oriented green electricity producers in the country are at a disadvantage, due to low and negative prices and curtailments, against companies involved in retail supply and with long-term power purchase agreements (PPAs) and feed-in tariff support.

Green energy giant EDP Renewables (EDP Renováveis) is expecting official bids for its four wind parks northwest of Athens, while also looking to sell all its other assets to MORE, the renewables subsidiary of oil refiner Motor Oil Hellas, according to news reports. The latter portfolio is said to include their joint venture.

EDPR, part of Portugal-based EDP Group, is apparently planning to exit the country next year, as early as the summer, and is already cutting jobs. The company entered Greece in 2018.

The wind parks, reportedly pursued by four domestic companies, are Livadi (45 MW) and Erimia (35 MW) in Malesina, Phthiotis, both commissioned last year, and new facilities Xironomi (36 MW)  and Chalcodonio (33.6 MW). They are located in Boeotia, Central Greece, and Magnesia, Thessaly, respectively.

Of note, EDP Renewables is headquartered in Spain, but traded on the Euronext Lisbon stock exchange.

Project portfolio includes major wind power clusters in Evia

The Greek press learned that MORE is likely to buy out EDPR’s 51% share in their projects for two wind farm clusters in Evia (Euboea), of 150 MW and 214 MW. Other assets that the oil refiner would pursue include another cluster under development for sites in the same island, of 156 MW, an operating 22 MW photovoltaic park in the Peloponnese and two wind farms under construction in Boeotia (also Beotia and Viotia).

In addition, the company has a pipeline of less mature projects for photovoltaics, standalone battery energy storage systems (BESS), hybrid power plants and wind power. They could all fit into one large package for sale.

EDPR is also exiting Hungary, Belgium, the Netherlands, Colombia, Brazil and a group of Asian countries.

Vertical integration or bust

Analysts have pointed out that the Greek market is no longer attractive to companies in the sector that are not vertically integrated. Namely, renewable energy producers oriented toward the market are exposed to curtailments and low, zero and negative power prices at electricity exchanges.

The ones also active in the supply and retail market have an advantage, as do the operators of power plants that receive subsidies like feed-in tariffs or have long-term PPAs.

The share of curtailed electricity in Greece is set to be more than doubled this year

Since the beginning of the year, over 860 GWh has been curtailed, Euro2day wrote. It is already more than all last year, when the share of lost electricity was 4%

But some companies seem dedicated to the Greek market.

France-based Valorem recently completed a wind park of 27 MW in Vlasti in the municipality of Eordaia. It is located in the Kozani regional unit in the region of Western Macedonia in northern Greece. The facility consists of six turbines, with an estimated annual output of 68 GWh overall.

Also in Kozani, Principia inaugurated a photovoltaic cluster of 95 MW. The firm is a joint venture between Enel and funds managed by Macquarie Asset Management. The Perasma facility, near the villages of Mavrodendri and Sidera, is set to generate 126.8 MW per year. It comprises seven solar power plants.

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April 25, 2025
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MORE puts 43.2 MW wind park in northern Greece into regular operation

Motor Oil Renewable Energy (MORE) received the operating license for its 43.2 MW wind power plant near the border with North Macedonia. The facility was in test operation since the fourth quarter of 2023.

MORE has 839 MW in renewable electricity plants in operation, aiming to reach 2 GW by 2030. There is already almost 3 GW in the project pipeline. The subsidiary of oil refiner Motor Oil Hellas recently received the operating license for its Kellas (Kella) wind park in Amyntaio in the Western Macedonia region.

The facility was in test operation since the fourth quarter of 2023. It has 43.2 MW in nominal capacity, while the maximum is 40 MW. The wind power plant, consisting of nine Nordex N-149 turbines, is near the border with North Macedonia.

The parent company financed the endeavor by buying a EUR 41.3 million bond that a project firm issued. In 2023 it refinanced it with EUR 47 million. MORE said that it recently also completed a wind farm in Phocis (Fokida). The combined capacity with the one in Amyntaio is 65 MW.

Partnership with Terna Energy for Greece’s first offshore wind park

The renewable energy company is planning floating and conventional wind farms as well. Its joint venture with Masdar’s Terna Energy, called Aioliki Provata Traianoupoleos, is developing a 400 MW project for a site on the Ionian Sea between Alexandroupolis and the island of Samothrace. It would be Greece’s first offshore wind power plant.

MORE’s solar power joint venture with PPC Renewables, the green energy branch of government-controlled Public Power Corp., has received final connection offers earlier this month for 882.4 MW. Six locations, for 742.4 MW altogether, are in the Kozani region, a 92 MW project is in Kilkis and another one, of 48 MW, is in Serres, all in northern Greece.

The idea is to sell the electricity to the Greek industry through bilateral power purchase agreements (PPAs), as well as to support farmers participating in the GAIA program, with a special tariff.

The two renewable energy companies already have final connection offers for 300 MW and they expect another 311 MW soon. Separately, PPC and Motor Oil are planning a 50 MW hydrogen production facility, as Hellenic Hydrogen.

MORE invested over EUR 1.6 billion in past two years

MORE said it invested over EUR 1.6 billion in the past two years. It entered a partnership in 2024 in Romania with Premier Energy for solar power plants with storage. MORE’s battery projects are underway in Greece, too.

GEK Terna and Motor Oil have built an 877 MW gas power plant in Komotini, in the region of East Macedonia and Thrace. The facility is about to enter regular operation, Energypress reported.

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April 7, 2025
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PPC plans EUR 5.8 billion makeover of Western Macedonia coal region, including data centers

Public Power Corp. (PPC) presented a EUR 5.8 billion investment plan for the coal region of Western Macedonia in northern Greece. It held the ceremony in the retired Kardia 2 lignite-fired power plant.

According to PPC’s chairman and CEO George Stassis, the endeavor consists of the decommissioning of old assets and the rollout of new energy technologies.

Stassis: Western Macedonia can reinvent itself

PPC, or DEI in Greek, said it would return to the government 8,000 hectares of coal land that it no longer needs, after completely restoring it. All equipment, such as 400 kilometers of lignite conveyor belts, cooling towers and excavators, are planned to be recycled up to 95%.

According to the decarbonization timeframe, Ptolemaida 5 will be the last coal plant in the country, continuing to operate until the end of 2026. It is set to be converted to a gas power plant with a capacity of 350 MW. PPC is also open to upgrading it to 500 MW or even 1 GW.

New photovoltaics, storage underway

“Western Macedonia can reinvent itself using new technology,” said the CEO.

The group aims to install a total of 2.1 GW in photovoltaics across the region. A 550 MW solar power plant in the former lignite mine of Ptolemaida is almost complete. It will be the biggest in the Balkans. Separately, a group of clusters of 940 MW is under construction within the Meton joint venture with German RWE.

Energy storage is another major segment in PPC’s investment plan. Within the next three years, it aims to funnel EUR 940 million for a total capacity of 860 MW. It includes two pumped storage hydropower projects. The one in Kardia is for 320 MW and an eight-hour storage duration, and the other in the South Lignite Field – 240 MW and a 12-hour duration. The projects are worth EUR 430 million and EUR 310 million, respectively.

Equally important, battery storage units of 300 MW altogether would be installed in Amyndaio, Akrini, Meliti and Kardia in the country’s main coal region. The other one is Megalopolis in the Peloponnese.

PPC plans a 50 MW hydrogen production facility together with Motor Oil, as Hellenic Hydrogen, and a cogeneration plant to cover district heating needs from the end of 2026.

Large 300 MW data center

Last but not least, the Greek group aims to create a 300 MW data center, as part of an investment of EUR 2.3 billion. A subsidiary in fiber optic cables would upgrade the telecommunication links with Thessaloniki and Igoumenitsa to improve data flow in Greece and abroad.

If conditions are favorable, PPC would further upgrade the data center to 1 GW, increasing its investment by EUR 5.4 billion.

Greek Prime Minister Kyriakos Mitsotakis said at the event that existing infrastructure in Western Macedonia is a great advantage.

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April 6, 2025
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Terna Energy to build solar power plant of 130 MW in Bulgaria

Terna Energy is developing a project for a 130 MW photovoltaic plant near Burgas in Bulgaria. The company, owned by Masdar, plans to connect it to the grid already by the end of next year. Recently it also reached landmark points in the development of wind power projects in Greece.

Abu Dhabi Future Energy Co. (Masdar), which has high ambitions for its expansion in Southeastern Europe, relies to a great extent on its recently acquired subsidiary Terna Energy. The Greek company revealed that it is preparing to install a 130 MW solar park near the village of Vratitsa in eastern Bulgaria.

The project in the municipality of Kameno in Burgas province includes design and procurement, as well as grid connection works including a new 33/110 kV substation. Terna Energy Group said it is targeting completion by the end of 2026.

As part of the strategic cooperation with the former parent company, GEK Terna, its construction arm Terna SA was selected as the contractor, the announcement reads.

Terna Energy operates two wind farms in Bulgaria, with 30 MW in overall capacity.

With its recent share purchases, Masdar boosted its stake in the Greek company to 97.6% from 87.9%. The green energy giant based in the United Arab Emirates acquired Terna Energy last year.

Wind power projects in Evia progressing

In other recent news, Terna Energy received operating licenses for four projects for a wind power complex. The sites are in Karystos in Greece’s second largest island – Evia, also known as Euboea. It is one of the country’s wind power hubs and an important area for the company.

The Terna Energy Omalies subsidiary is responsible for the said investments, of 78 MW in total. They are part of an endeavor consisting of 11 wind farms.

The location for the biggest of the four, at 36 MW and with 12 turbines, is called Praro. The company ordered 3 MW machines from Enercon for all the sites. Molizeza 1 and Kalamaki 2 are for 18 MW each, and Kalamaki would have 6 MW.

Joint venture with MORE for Greece’s first offshore wind farm

Of note, the construction of wind parks in the Balkans has mostly slowed down. Moreover, Bulgaria has been at a standstill since the first wave of investments died down more than a decade ago, while Romania is struggling to pick up pace. Greece added only 125 MW last year.

Terna Energy is counting on opportunities in the offshore wind domain. In January, it joined forces with Greek refiner Motor Oil in the pilot project for the country’s first facility of the kind.

Motor Oil Renewable Energy (MORE) now holds 50% of joint venture Aioliki Provata Traianoupoleos. The project firm is tasked with developing a 400 MW offshore wind power plant on the Ionnian Sea between Alexandroupolis and the island of Samothrace. The two companies aim to complete it by the end of the decade.

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