Amazon is investing $1 billion in three new large-scale wind farms in Greece. This is the company's largest renewable energy initiative to date in Greece. These energy parks will help meet Amazon's energy needs in the region, providing clean energy and supporting Greece's goal of transitioning to renewable energy sources.
The investment was announced on Tuesday, during the "AWS Day powered by Logicom" conference held in Athens at the Hellenic Cosmos Cultural Centre, in the presence of the Minister of Environment and Energy, Mr. Theo Skylakakis.
With these projects, Amazon is further strengthening its portfolio of energy investments that it is developing internationally. In Greece, four power purchase agreements have already been signed for three renewable energy sources projects. In particular, two of these agreements concern the wind farms in Vermio (Vermio North and Vermio South wind farms) in Western and Central Macedonia, while two more concern the wind farms in Messokorfi and Koukouras in the Peloponnese.
Construction has already started, and the wind farms are expected to be fully operational in 2026. Their production is estimated to be equivalent to supplying electricity to 200,000 Greek households per year. The energy produced by the new projects will be fed directly into the central grid, meeting both the operational needs of Amazon and the needs of local businesses, public institutions, and households.
Already, more than 100 new jobs have been created for the wind farm in Vermio, and when the plants are fully operational, the new jobs are expected to reach 300, according to data from Aer Soléir, the Dublin-based project developer with a significant presence in Europe in the renewable energy infrastructure development sector.
The new projects align with Amazon's Climate Pledge initiative, which is the company's commitment to achieving zero carbon emissions by 2040. At the same time, they contribute to achieving the goals of Greece's National Energy and Climate Plan, which calls for more than 80% of the country's electricity to be generated from renewable sources by 2030. With 48% of Greece's energy production being based on fossil fuels, the new wind farms are expected to significantly help reduce the country's carbon emissions and support Greece's transition to clean energy production. These Amazon Renewable Energy projects are part of a broader initiative that includes more than 500 solar and wind energy projects worldwide. In this context, Amazon recently achieved its goal of 100% renewable energy use in 2023, seven years earlier than the original 2030 forecast.
"The three new wind farms in Greece represent a significant milestone in our investment in carbon-free clean energy across Europe and add to the ever-growing number of renewable energy projects we are supporting in the country," said Amazon Web Services (AWS) Director of Energy for EMEA, Ms. Lindsay McQuade. "With more than 180 wind and solar projects in over a dozen European countries, we are committed to driving the transition to clean energy both to support our operational needs and local communities," she added.
"The partnership between Amazon, Aer Soléir, and the National Bank has resulted in very good news for our country: an investment of over $1 billion, which is well underway and expected to be completed within the next two years, bringing clean energy equivalent to power to 200,000 households. This landmark investment is part of Amazon's comprehensive, strategic presence in Greece and the region. It is not only an energy investment, but an investment linked to all the activities that Amazon is developing and will develop in Greece in the coming years. What is important about this investment, apart from the new jobs created, is the combination of energy and development that characterises it. It is proof that we should not look at clean energy in a static or defensive way. Clean energy launches growth into the future, enabling us to think and move on to other activities, but it also enhances the prospect of national energy independence. That is the goal. The complete paradigm shift for the Greek economy, the transition to an economy that will produce its own abundant, cheap, and clean energy, which will allow it to be a beacon of growth and progress in the wider region," said Environment and Energy Minister Theo Skylakakis.
As part of its partnership with Amazon, Aer Soléir, as developer of the project, has allocated more than €1 million for investments in the local community, involving infrastructure upgrades, donations to schools, support for emergency services, and financial support for local agriculture and local producers.
In relation to the wind farm in Vermio, Aer Soléir has invested an additional €1.8 million in reforestation and biodiversity projects in the region, which involve, respectively, upgrading road networks in forest areas, creating recreational areas and walking trails that improve the local community's access to the forest, and forest management projects that enhance the conservation of the region's forest wealth.
"Quantum is proud to support Aer Soléir in its partnership with Amazon in Greece," said Quantum Capital Group founder and CEO Wil Vanloh. "These energy supply agreements with Amazon demonstrate Aer Soléir's success as a leading renewable energy development platform and also underline our commitment to promoting sustainable energy solutions across Europe."
Aer Soléir's CEO and founding partner, Mr. Andy Kinsella, said: "Since its inception in 2021, Aer Soléir has been committed to driving Greece's transition to green energy. With the support of our investors, Quantum Capital Group and 547 Energy, our financial partners, the National Bank of Greece and the Recovery and Resilience Fund, and our local development partner, Enteka, we are investing over €500 million in wind energy projects across Greece. We are proud that our projects contribute significantly to the Greek government's renewable energy goals, and we are excited to partner with Amazon."
The total investment is expected to exceed $1 billion and will be co-financed by the National Bank of Greece as well as funds from the Recovery and Resilience Fund.
Vassilis Karamouzis, General Manager of Corporate and Investment Banking at the National Bank of Greece, said: "Accelerating Greece's energy transition and attracting foreign direct investment are key priorities for our bank. We are proud to be the exclusive "Partner of Choice" for Aer Soléir, participating, for our part, in the largest, to date, Amazon Renewable Energy Supply Agreement in Greece."
Within the period 2014–2022, Amazon's investments in renewable energy across Europe generated approximately €2.4 billion to the regional economy and contributed more than €723 million to Europe's GDP, while creating more than 3,900 full-time jobs in 2022 alone. Since 2020, AWS has established "Edge Location" in Athens, bringing advanced technologies such as "Amazon CloudFront," "Lambda@Edge," "AWS Shield," and "AWS WAF" to the country, connecting Greece to the AWS global infrastructure network. AWS is working with the Greek Government to leverage cloud technologies to boost innovation in Greece, including a pilot project to transform the island of Naxos into a smart island and the creation of the first European Outpost Testing Lab (OTL) in Athens.
