German energy firm RWE and Greece’s Hellenic Petroleum have joined forces to explore offshore wind opportunities in Greek waters.

The 50-50 partnership was signed recently between two subsidiary companies, RWE Renewables and Helpe Renewables, with the aim of collaborating on the development, construction and operation of offshore wind farms.

RWE has a presence in Greece through its solar footprint and said it would continue to play a role in Greece’s energy transition, which currently targets 2 GW of offshore wind capacity in operation by 2030, for both fixed-bottom and floating projects.

“The country’s excellent wind resource in combination with its long coast line result in a vast potential for offshore wind developments, which makes us confident that the Greek offshore wind industry will gain real momentum,” said Sven Utermöhlen, the CEO of RWE Renewables to shipping media,

“The complementary nature of our partnership with Hellenic Petroleum is the key to developing a value proposition that accelerates the offshore wind build-out off the Greek coast.”