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.

The financing supported by the European Investment Bank will enable GreenIT to develop its portfolio of onshore wind projects in Italy by 2028.
Indian wind turbine manufacturer Suzlon has secured an 838 MW contract from Tata Power Renewable Energy for a wind project spanning three states, marking its largest order of the 2025–2026 fiscal year.
With 816 MW of capacity and 140 turbines, Colbún’s Horizonte wind farm launched its commercial phase in early September after a gradual deployment over several months.
VSB Germany is developing over 800 megawatts of wind, solar, and storage projects, with 20% originating from repowering, confirming an investment strategy focused on optimising existing assets.
Danish group Ørsted will raise new funds through a rights issue to strengthen its financial structure and cover needs linked to the full ownership of the Sunrise Wind project.
Norway has received two bids for offshore sites in the Utsira Nord zone, marking a key step in the country’s floating wind development.
EDP Renováveis has completed the sale of twelve operational wind farms in France and Belgium to Amundi Transition Energétique for an enterprise value of €200mn ($215mn).
Octopus Energy has signed a strategic agreement with Ming Yang Smart Energy to deploy up to 6 GW of wind projects in the UK, combining software technology and turbines to boost local capacity.
The US government has requested the judicial cancellation of the federal permit granted in 2024 for an offshore wind project, citing impacts on commercial fishing and maritime rescue operations.
Vattenfall commits new investment to the Clashindarroch II onshore wind project, a 63MW site in Scotland set to begin construction in 2026 and deliver first power in 2027.
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 Chinese turbine manufacturer has signed a strategic agreement with Mensis Enerji to develop an initial 4.5 GW wind power portfolio in Turkey, strengthening its position in a fast-growing regional 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.

Log in to read this article

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