BW Ideol has joined forces with Japan’s largest utility, JERA, and French state-owned investment company ADEME Investissement to create an investment company for financing the co-development of floating offshore wind projects using BW Ideol’s Damping Pool technology over the next five years.
Under the investment agreement, BW Ideol will hold 51% of the new entity, with JERA and ADEME Investissement holding 24.5% each.
“This 3-party collaboration reflects our joint ambition to fully capitalise on the opportunities created by the rapidly growing offshore floating wind market by leveraging BW Ideol’s growth strategy track as co-developer of floating wind projects based on our unique floating foundation technology,” said Paul de la Guérivière, the CEO of BW Ideol.
JERA managing executive officer, Satoshi Yajima, said: “We believe this agreement between the three companies will accelerate the development of floating offshore wind and open up the possibility of using offshore energy in Japan and other areas with limited potential for fixed-bottom offshore wind.”
Arnaud Leroy, CEO of ADEME, added that the partnership will aim at financing first commercial scale projects and supporting BW Ideol’s technology as both could contribute to accelerating the competitiveness of floating offshore wind.