Amazon For 3 Utility-Scale Wind Farms In Greece
Wind Farms Expected To Generate Enough Carbon-Free Energy To Power Nearly 200,000 Greek Homes Per Year
Amazon is investing in three new utility-scale wind farms in Greece, which is the company’s largest renewable energy deal in the country to date. These wind farms will help match Amazon’s electricity use in the region with carbon-free energy, while supporting Greece’s goal of transitioning to more renewable electricity sources. The news was announced at Amazon Web Services Day (AWS Day) in Athens, with Theodoros Skylakakis, minister of Environment and Energy, in attendance.
Amazon continues to build out its carbon-free energy portfolio. In Greece, the company signed four Power Purchase Agreements (PPAs) that span three renewable energy projects. Two of the PPAs are for the Vermio wind farm, which is divided into Vermio North and Vermio South, spanning the Western and Central Macedonia regions. The other two PPAs enable the Mesokorfi and Koukouras wind farms in the Peloponnese region. Construction of these wind farm projects has already started, with power generation expected to begin in 2026. In total, the three wind farms are expected to generate enough carbon-free energy to power the equivalent of nearly 200,000 Greek homes annually. The energy from the projects will be delivered directly to the grid, helping power Amazon’s operations while benefitting other energy users, including local businesses, public institutions, and Greek households.
The construction and long-term operation of the wind farms are also expected to support new employment and economic opportunities across the region. For the Vermio wind farm alone, more than 100 construction jobs have already been created, with up to 300 roles expected during peak activity on the site, according to Aer Soléir, a Dublin-headquartered developer and owner of sustainability infrastructure across Europe. Developed by Aer Soléir, the renewable energy projects align with Amazon’s Climate Pledge commitment to achieve net-zero carbon across its operations by 2040. The projects also support Greece’s National Energy and Climate Plan to generate more than 80% of the electricity it uses from renewable sources by 2030.
(Image courtesy of Amazon)
Greece’s grid is still carbon intensive and relies on fossil fuels for 48% of its electricity needs. The wind farms can make a significant impact in helping the country avoid carbon emissions and accelerate its carbon-free energy transition.
The wind farms are among more than 500 solar and wind projects that Amazon has enabled globally. In 2023, Amazon achieved its 100% renewable energy goal seven years ahead its original 2030 target.
“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 US$1 billion,” said Skylakakis. “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.”
“These three new wind farms in Greece mark an important milestone in our carbon-free energy journey across Europe and adds to the growing number of renewable energy projects we’ve supported in the country,” said Lindsay McQuade, director of energy for Europe, Middle East, Africa at AWS. “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.”
As part of its collaboration with Amazon, Aer Soléir has allocated more than US$1.05 million for community investments such as infrastructure improvements, donations to schools and emergency services, and economic support for local agriculture and farmers. For the Vermio wind farm, Aer Soleir has also allocated an additional US$1.89 million specifically for reforestation and biodiversity programes in the region. The reforestation investment includes upgrades to forest road networks, construction of recreation areas and walkways to improve access for communities, and forest management plans to promote conservation.
“Quantum is thrilled to support Aer Soléir in their partnership with Amazon in Greece,” said Wil Vanloh, founder and chief executive officer (CEO) of Quantum Capital Group. “Securing the PPAs with Amazon demonstrates Aer Soléir’s success as a renewables development platform and highlights our commitment to advancing sustainable energy solutions across Europe.”
“Since its inception in 2021, Aer Soleir has been committed to advancing Greece’s energy transition,” said Andy Kinsella, CEO and founding partner of Aer Soléir. “Supported by our investors Quantum Capital Group and 547 Energy, our project finance partners, the National Bank of Greece and the European Union’s Recovery and Resilience Facility, and our local development partner Enteka, we are investing more than €500 million in wind projects across Greece. We are proud that our projects are significantly contributing to the Greek Government’s renewable energy goals and are delighted to be partnering with Amazon.”
The US$522 million financing for Greece’s flagship energy project combines US$262 million in commercial debt from the National Bank of Greece and funds from the European Recovery & Resilience Fund, tailored for stakeholders Aer Soleir and Amazon.
“Accelerating Greece’s energy transition and attracting foreign direct investment are key priorities for our bank,” said Vassilis Karamouzis, general manager, corporate & investment banking, at National Bank of Greece SA. “We’re proud to be the Exclusive “Counterparty of Choice” for Aer Soleir, enabling Amazon’s largest procurement of renewable energy in Greece to date.”
Between 2014 and 2022, our renewable investments across Europe enabled an estimated US$2.53 billion for the regional economy and helped contribute more than
US$761 million to the region’s gross domestic product, according to a new economic model developed by Amazon. The projects also supported more than 3900 full-time equivalent jobs in 2022 alone.
Since 2020, AWS has had an Edge location in Athens, bringing advanced technologies such as Amazon CloudFront, Lambda@Edge, AWS Shield, and AWS WAF to the country and connecting Greece to the AWS global infrastructure network. AWS has been working with the Greek Government to use cloud computing technologies to foster innovation in Greece, including a pilot project to turn the island of Naxos in the Aegean Sea into a smart island, and the launch of a first European Outpost Testing Lab in Athens.
