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January 5, 2022

BW Ideol signs investment agreement for offshore floating wind projects

The floating wind projects will be equipped with BW Ideol’s patented damping pool technology.

BW Ideol , who develop floating wind projects, has signed an investment agreement with Japanese utility firm Jera and French company ADEME Investissement.

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The agreement seeks to create an investment company to finance the co-development of offshore wind projects over the next five years.

The projects will be developed with BW Ideol ’s damping pool technology using funds provided by the investment for the future program.

BW Ideol CEO Paul de la Guérivière said: “We are honoured to have signed the investment agreement with JERA and ADEME Investissement.

“This agreement materialises our solid relationship with JERA, Japan’s largest utility company and an established player in offshore wind developments, especially in Japan and Asia.

“We are also pleased to further consolidate our relationship with the Investment for the Future Program (sponsor of ADEME Investissement), which has been a partner of BW Ideol in the financing of its Floatgen demonstrator.”

As agreed, BW Ideol will have a 51% ownership in the new company while Jera and ADEME Investissement will hold 24.5% each.

The final agreement is said to be in line with the key terms signed by the three companies in 2020.

Jera managing executive officer Satoshi Yajima said: “Floating offshore wind has a large energy potential and is expected to play a significant role in expanding the introduction of renewable energy in the future.

“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.”

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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