Greek power utility PPC SA announced that its renewables subsidiary, PPC Renewables, has entered into an agreement to acquire a 216-MW pilot offshore wind project off the coast of Alexandroupolis. The project, known as Thrakiki Wind 1 SA, holds the generation license for the offshore wind initiative.
The acquisition deal, executed with Copelouzos Group and Samaras Group, sees PPC Renewables obtaining full ownership of Thrakiki Wind 1 SA. Financial details of the transaction were not disclosed.
The fixed-bottom offshore wind project aligns with regulations governing the pilot implementation of such projects and is situated in the offshore area of Alexandroupolis. This particular zone has been designated for pilot offshore wind projects with a combined capacity of 600 MW.
PPC stated that the collaboration of the involved parties will focus on leveraging their expertise to expedite the development of the pilot project efficiently.
Recently, the Hellenic Hydrocarbon and Energy Resources Management Company (HEREMA) issued exploration licenses for two projects in the Alexandroupolis marine area. Terna Energy's Aioloki Provata Traianoupoleos MAE development secured the other license.
Greece has also taken strides in offshore wind energy development, unveiling a draft version of its program that designates 25 areas for potential projects. The long-term goal is to integrate at least 12.4 GW of offshore turbines into the country's energy landscape. The acquisition of Thrakiki Wind 1 SA underscores PPC's commitment to advancing renewable energy initiatives in Greece.