Motor Oil Renewable Energy (MORE) has officially begun regular operations at a new 43.2 MW wind power plant located in northern Greece, near the border with North Macedonia. The facility, equipped with nine Nordex N-149 turbines, had previously entered its testing phase in late 2023.
This project forms part of MORE’s larger strategy to significantly grow its renewable energy capacity, targeting 2 gigawatts (GW) of operational assets by 2030. The company currently has nearly 3 GW in its project pipeline, positioning it as a key player in Greece’s energy transition.
The wind farm was financed through a refinancing deal worth $53.3 million (€47 million), which replaced an earlier $46.8 million (€41.3 million) bond issued by the project company. Beyond this development, MORE is advancing several other renewable energy projects across Greece. These include a 53.6 MW wind farm in the East Macedonia and Thrace region, as well as a 400 MW offshore wind project in partnership with Terna Energy.
These initiatives support Greece’s national renewable energy goals and demonstrate MORE’s strong commitment to sustainable energy. Over the past two years, the company has invested more than $1.8 billion (€1.6 billion) in renewable energy projects, reinforcing its role in the country’s green transition.