BW Ideol has struck a deal to acquire a 5% ownership interest in the 30 MW EolMed floating wind pilot project in the French Mediterranean.
BW Ideol and the project lead Qair have been cooperating on the floater since 2016 and the early development stages when the French government awarded the project on the merits of BW Ideol’s floating wind technology. Since then, in 2020, TotalEnergies Renewables acquired a 20% stake in the project.
EolMed is one of the first floating wind projects in the Mediterranean and is composed of three 10 MW Vestas wind turbines. The project will be installed 15 km off Gruissan, France. The development is progressing towards a final investment decision (FID) with an expected start of construction in early 2022.
“By licensing our floater technology, providing design and engineering services and becoming a co-shareholder of the project, we are both executing our long-term growth and value creation strategy as well as strengthening our project portfolio and our unique access to a valuable return of experience,” said Paul de la Guérivière, CEO of BW Ideol.