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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 green hydrogen production facility in Amyntaio, as Hellenic Hydrogen. In February, the European Commission approved a EUR 111.7 million grant for Motor Oil for the production of green hydrogen. The aid is from the European Union’s Recovery and Resilience Facility (RRF) and the National Recovery and Resilience Plan Greece 2.0. Hellenic Hydrogen is implementing the Blue Med project, for the creation of a complete supply chain through to utilization of the renewable gas. Another electrolyzer would be set up at Motor Oil’s refinery in Agioi Theodoroi, Corinth. 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. |
