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Amazon Expands Renewable Energy Footprint With Three New Projects In Greece

by THEFUTURE.TEAM

February 4, 2025

Amazon has announced a major investment in three new renewable energy initiatives across Greece, boosting its commitment to sustainable energy sources. These projects bring the total number of power purchase agreements (PPAs) Amazon has signed in the country to eight, aligning with the company’s broader climate goals as part of its Climate Pledge initiative. The pledge includes achieving net-zero carbon emissions across all its operations by 2040.

The latest projects, with a combined capacity of 657 MW of carbon-free energy, are expected to power around 330,000 households in Greece. Thanasis Patsakas, Country Manager for Greece at Amazon Web Services (AWS), stated, “Amazon is dedicated to driving the transition to carbon-free energy not just for our operations, but for the communities where we serve our customers. We’re proud to have secured eight wind and solar energy deals in Greece, positioning Amazon as the top corporate buyer of renewable energy in both Greece and Europe by 2024.”

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Among the recent agreements are the Elzet solar farm and Menelou wind farm, both owned by Portugal’s Greenvolt. Located in Thessaly and Western Greece respectively, these projects are part of a broader strategy to bolster the region’s renewable energy capabilities. The Hellas Green solar farm, developed by Luxcara, adds to this momentum in Western Macedonia.

Minister of Environment and Energy, Theodoros Skylakakis, praised Amazon’s ongoing investments in Greece, highlighting the importance of renewable energy sources for the country’s energy transition. “Greece holds a natural advantage in renewable energy, and Amazon’s continued investment is a catalyst for achieving our national energy goals,” Skylakakis noted. “Such initiatives not only provide environmental benefits but also create new jobs and offer affordable electricity to local households.”

Looking ahead, Amazon has also committed to additional projects, including the Vermi wind farm in Macedonia and wind farms in Peloponnese’s Mesokorfi and Koukouras areas, which are expected to begin operations in 2026.

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Monday.com To Cut 20% Of Workforce As It Expands AI Strategy

Monday.com, the Israeli workplace software company, is laying off about 630 employees, or roughly 20% of its workforce, as it restructures the business to support a leaner operating model and accelerate investment in artificial intelligence.

Restructuring Around AI

In a regulatory filing, the company said the workforce reduction is intended to better align resources with its AI strategy, which has become a central focus of its product development.

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Earlier this year, Monday.com expanded its AI offering by introducing the Monday.com AI Work Platform, designed to integrate AI agents into day-to-day business workflows.

The platform includes a no-code app builder, a customizable AI agent, workflow automation tools and a chatbot capable of generating reports, updating dashboards and assisting with routine tasks.

Part Of A Wider Industry Trend

Monday.com’s restructuring reflects a broader shift across the technology sector, where companies are reducing costs while increasing investment in AI development and infrastructure.

According to Layoffs.fyi, tech layoffs rose sharply in May, with 78% of companies citing AI-related restructuring as a factor behind job cuts this year. More than 122,000 technology roles have been eliminated worldwide in 2026, according to the tracker.

Restructuring Costs

Monday.com expects to record restructuring charges of between $45 million and $55 million as a result of the layoffs. The move highlights how software companies are reallocating resources to support AI-focused products and services as competition in the sector intensifies.