Magoula, Valorem’s first wind farm in Greece

Magoula, an onshore wind farm, is Valorem's first installation in Greece with financing raised from Alpha Bank.

Share:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

Magoula, an onshore wind farm, is Valorem’s first installation in Greece with financing raised from Alpha Bank.

A first project

Magoula is located on Mount Askio, northwest of the town of Kozani, in northern Greece. The wind farm built by Valorem will be located at an altitude of 1700 meters. The project includes 6 wind turbines, VestasV150of 4.5MW and will have a grid connection via the substation of Gratsiani.

The Magoula wind farm will provide an estimated annual production of 71GWh. Thus, it represents the equivalent of the electricity consumption of 18,000 households. Construction will begin at the end of 2022 with commissioning scheduled for the first quarter of 2024.

Valorem receives financing from Alpha Bank for the construction of Magoula. The company intends to invest a total of €40 million. In addition, the park will be managed by Valrea, a subsidiary of Valorem.

A partnership of companies

Air Energy will be in charge of the construction, Valorem will be in charge of the asset management, Vestas will be in charge of the operation and maintenance of Magoula. Philippe Tavernier, Executive Vice President of the Valorem Group, said:

“We want to expand our presence outside of France and support Europe to accelerate the energy transition, secure affordable green electricity supply and achieve energy autonomy. In line with our strong business strategy, we are developing since 2019 in Greece a mixed portfolio of photovoltaic and wind renewable energy projects. Greece is a key market for Valorem and we are delighted that our expansion there is supported by Alpha Bank, our financial partner.”

In addition, the financing with Alpha Bank amounts to €31 million.

Thomas Stavrou, Greece Director of Ren Valorem Hellas, says:

“After three years of operation in Greece, we are very pleased to see that Valorem has gained the confidence of the market and the country. Greece still has an untapped potential for renewable energy, mainly from wind and solar, which makes us optimistic about decarbonization and achieving its environmental goals. Green electricity, in addition to being beneficial to the environment, is a fundamental driver of economic growth due to its low cost. We are very pleased to be able to support the country’s sustainable development through our renewable energy projects.”

Valorem currently has a portfolio of approximately 700MW of renewable energy. The Magoula project will enable the company to become a leading European independent power producer.

Valorem is a French independent producer in the renewable energy sector. The company is notably present in Colombia, Greece and Poland. The company has a portfolio of 5.5GW of projects under development.

Alerion Clean Power enters the Irish market through the acquisition of an onshore wind farm in County Tipperary, as part of its 2025–2028 industrial plan.
Driven by China's acceleration, global wind capacity is expected to reach 170 GW in 2025, paving the way for a doubling of installed capacity by 2032.
Ocean Winds reaches a new milestone with the installation of the first foundation at the Dieppe – Le Tréport offshore wind farm, which will comprise 62 turbines supplying nearly 850,000 people.
Pennavel and BrestPort strengthen their partnership around the South Brittany floating wind project, aiming to structure industrial operations from 2030 at the EMR terminal of the port of Brest.
Van Oord has completed the installation of 109 inter-array cables at the Sofia offshore wind farm, marking a major logistical milestone for this North Sea energy infrastructure project.
Italian producer ERG will supply 1.2 TWh of energy to Rete Ferroviaria Italiana starting in October, marking a step forward in structuring the national PPA market.
The Trump administration plans to revoke federal approval of the New England Wind project, jeopardising offshore wind contracts representing 2,600 MW of capacity off the northeastern US coast.
Orsted and two U.S. states have taken federal legal action to contest the abrupt halt of the Revolution Wind project, a $5 billion offshore venture now at risk of prolonged suspension.
SPIE Wind Connect will carry out subsea connections for phase II of the TPC project, a major development in Taiwan’s offshore wind sector with a projected annual capacity of 1,000 GWh.
Envision Energy launches its first project in Turkey in partnership with Yildizlar Group, adding 232 MW to the national wind capacity in Karaman province.
ABO Energy maintains its annual targets despite a drop in half-year profit, relying on cost-cutting measures and early project sales to secure cash flow.
Energiekontor has closed financing for two wind projects in Verden, with a combined 94 MW, with construction starting this year and commissioning scheduled for 2027.
South Korea has rejected all projects using foreign turbines in its 2025 offshore wind auction, marking a strategic shift in favour of local industry and energy security.
The Danish Energy Agency confirmed the rejection of 37 feasibility study permit applications, citing European Union state aid rules and lack of competition.
With an AUD$3 billion investment, ACEN launches one of Tasmania’s largest private projects, aiming for commissioning in 2030 and annual supply for 500,000 households.
In France, a 12.9 MW wind farm financed by local actors has been commissioned in Martigné-Ferchaud, showcasing an unprecedented model of shared governance between citizens, local authorities and public investment companies.
The governors of five states urged the Trump administration to maintain permits for threatened offshore wind projects, citing massive investments and jobs at stake in a nascent industry.
Green Wind Renewables is developing a 450 MW wind farm in the Wheatbelt region of Australia, with up to 75 turbines and an estimated annual output of 1.5 TWh.
German group RWE has commissioned five new power plants in France, adding 83 MW to its portfolio, following repeated successes in tenders organised by the Energy Regulatory Commission.
The 600 MW onshore wind farm in Laos achieves commercial operation four months early, injecting power into Vietnam via a 500 kV interconnection and consolidating an international financing package of $950mn.

Log in to read this article

You'll also have access to a selection of our best content.