Amazon is making its entry into utility-scale wind energy in Greece with an investment in three wind farms – the company’s largest renewable energy deal in the country.
The projects, announced on 19 November 2024 at Amazon Web Services (AWS) Day in Athens, will align Amazon’s electricity use with carbon-free energy and support Greece’s renewable energy transition goals.
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Amazon has signed four power purchase agreements (PPAs) covering three renewable energy projects in Greece.
Two PPAs are for the Vermio wind farm, divided into Vermio North and Vermio South, in the western and central regions of Macedonia.
The other two PPAs involve the Mesokorfi and Koukouras wind farms in the Peloponnese region. Construction has commenced there, with power generation expected by 2026.
The three wind farms will generate enough carbon-free energy to power 200,000 Greek homes annually.
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By GlobalDataThe energy will be fed directly into the grid, benefiting Amazon’s operations, local businesses, public institutions and households. The projects will create new employment and economic opportunities in the region.
Their Dublin, Ireland-based developer, Aer Soléir, has reported that the Vermio wind farm alone has created 100 construction jobs, with up to 300 roles expected at peak activity.
The projects align with Amazon’s Climate Pledge to achieve net zero carbon by 2040 and support Greece’s National Energy and Climate Plan to generate 80% of its electricity from renewable sources by 2030.
AWS director of energy for EMEA [Europe, the Middle East and Africa] Lindsay McQuade stated: “These three new wind farms in Greece mark an important milestone in our carbon-free energy journey across Europe and add to the growing number of renewable energy projects we’ve supported in the country.
“With more than 180 wind and solar projects enabled across more than a dozen European countries, we are committed to driving the carbon-free energy transition forward both for our operations and local communities.”
Greece’s grid remains carbon-intensive, relying on fossil fuels for 48% of its electricity. The wind farms will reduce carbon emissions and accelerate Greece’s transition to carbon-free energy.
These projects are among 500 solar and wind initiatives Amazon has supported globally, achieving its 100% renewable energy goal in 2023 – seven years ahead of schedule.
Greek Minister of Energy and Environment Theodoros Skylakakis stated: “The collaboration between Aer Soleir, the National Bank of Greece and Amazon is a ground-breaking commitment to Greece’s renewable energy future, marked by a transformative investment exceeding $1bn.
“Amazon has been steadily increasing its investment in technology and infrastructure across Greece, and this announcement today underscores Amazon’s pivotal role in supporting sustainable development in the region and their commitment to driving innovation, economic growth and digital transformation across Greece.”
Aer Soléir has allocated €1m for community investments, including infrastructure improvements, school donations and support for local agriculture.
A further €1.8m is earmarked for reforestation and biodiversity programmes at the Vermio wind farm, including forest road upgrades and conservation plans.
The €496m financing for Greece’s energy project combines €249m in commercial debt from the National Bank of Greece and funds from the European Recovery and Resilience Fund, benefiting stakeholders Aer Soléir and Amazon.
AWS is collaborating with the Greek government on innovation projects, including a smart island pilot on Naxos and a European outpost testing lab in Athens.
