Motor Oil Group and TERNA Energy Group are collaborating to develop Greece’s first Offshore Wind Farm (OWF), marking a significant step forward in the country’s renewable energy initiatives.
As part of this partnership, Motor Oil Group, through its subsidiary Motor Oil Renewable Energy (MORE), has finalized the acquisition of a 50% stake in the share capital of “Aioliki Provata Traianoupolis,” a subsidiary of TERNA Energy Group.
This strategic move highlights both groups’ commitment to advancing Greece’s offshore wind energy sector and achieving the nation’s clean energy goals.
“Aioliki Provata Traianoupolis” has secured the rights to develop a pilot Offshore Wind Farm (OWF) with a capacity of 400 MW in the waters of the Aegean Sea just south of Alexandroupolis and north of the island of Samothraki.
This groundbreaking project, set to be completed by the end of 2030, will be the first of its kind in Greece, playing a pivotal role in advancing the National Offshore Wind Development Program.
It is expected to demonstrate the significant benefits of offshore wind energy for both the national and local economy, while showcasing its compatibility with sectors such as shipping and tourism.
Through their collaboration on this landmark Offshore Wind Farm project, Motor Oil Group and TERNA Energy Group are not only strengthening their footprint in Greece’s clean energy production but also fulfilling their environmental commitments.
At the same time, they are contributing to sustainable development and driving the country’s energy transformation toward a greener future.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
PM Mitsotakis to Chair New Democracy’s Committee Meeting
Today’s meeting is seen as a crucial opportunity to halt internal disputes within ND and reaffirm unity within the party.
Trump Tariffs Jeopardize Growth: Piraeus Chamber of Commerce
The tariffs, aimed at reducing the U.S. trade deficit, are expected to have both direct and indirect effects on the European economy
EU Condemns Trump Tariffs, Prepares to Retaliate
As tensions escalate, the EU is expected to continue negotiations with Washington while preparing for potential economic retaliation.
The Likely Impact of Trump Tariffs on Europe and Greece
Trump tariffs are expected to negatively affect economic growth in the Eurozone while Greece's exports could take a hit.
Motor Oil Results for 2024: Adjusted EBITDA of 995 mln€; Proposed Dividend of 1.4€ Per Share
Adjusted EBITDA for 2024 was down 33% yoy. The adjusted profit after tax for 2024 stood at 504 million euros, a 43% decrease from the previous year
Cost of Living: Why Greece’s 3% Inflation Is Raising Alarm
Greece appears to be in a more difficult position when it comes to price hikes, just as we enter the era of Trump’s tariffs.
Fitch Ratings Upgrades the Four Greek Systemic Banks
NBG’s upgrade reflects the bank’s ongoing improvements in its credit profile, Fitch notes in its report, including strong profitability, a reduction in non-performing exposures (NPEs), and lower credit losses
Trump to Announce Sweeping New Tariffs Wednesday, Global Retaliation Expected
With Trump's announcement just hours away, markets, businesses, and foreign governments are bracing for the fallout of one of the most aggressive shifts in U.S. trade policy in decades.
Inflation in Greece at 3.1% in March, Eurostat Reports
Average inflation in the eurozone settled at 2.2%, compared to 2.3% in February
Greece’s Unemployment Rate Drops to 8.6% in February
Despite the overall decline, unemployment remains higher among women and young people.
![ΕΛΣΤΑΤ: Αυξήθηκε η οικοδομική δραστηριότητα κατά 15,6% το Δεκέμβριο [πίνακες]](https://www.ot.gr/wp-content/uploads/2025/03/DSC9655-2-1024x569-1-90x90.jpg)
