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Floating Wind: Ocean Winds and Terna Energy Plan Offshore Wind Farms in Greece

Madrid, Spain - Ocean Winds is a joint venture created by Portugal's EDP Renewables and France's Engie Group. The company has signed a collaboration agreement with TEerna Energy to co-develop floating offshore wind projects in the Greek seas.

Ocean Winds currently has a wide portfolio. Currently, offshore wind farms with a capacity of 1.5 GW are under construction and 4 GW are under development. By 2025, Ocean Winds aims to have 5 - 7 GW of offshore wind capacity in operation or under construction and 5 - 10 GW in advanced development stages.

Greece's Terna Energy has more than 1.8 GW of renewable generation capacity in its overall portfolio, which includes assets in operation, under construction or ready for construction in Greece and abroad. A flagship project for Terna Energy in Greece is the St. George Island semi-offshore project. The company developed, constructed and is currently operating it.

George Peristeris, CEO of Terna Energy, says: "In our long commitment to provide clean and renewable energy in Greece, we have identified that the next step towards sustainability is the development of offshore wind farms. Floating offshore wind is ideal for the Greek seas, due to their depth and unique characteristics."

EDP Renewables, listed on the global equity index RENIXX World, is currently trading at just under 17 euro.

Source: IWR Online, 18 Mar 2021