Japanese utility company JERA, French State-owned investment company ADEME Investissement and IDEOL have partnered to develop floating offshore wind projects.

The companies have agreed on the main terms to create an investment vehicle. This will fund the worldwide development of 2GW of commercial-scale floating offshore wind projects in the next five years.

The projects will be developed using Ideol’s patented Damping Pool technology.

JERA Business Development Department executive officer Satoshi Yajima said: “JERA is enchanted to support the most promising floating foundation on the market and to be a part of its future inevitable success.

“We are positively assured by Ideol’s high local content technology and we envision commercial-scale projects around the globe through this partnership.”

Some of the target markets include Scotland, France, Japan and the US and more.

According to the release by JERA, tenders for commercial-scale floating offshore wind farms in Scotland and France are expected to be issued soon.

Ideol CEO Paul de la Guérivière said: “This new milestone for IDEOL confirms the market-readiness of our technology and shows the relevance of our unique business model as project co-developer and co-EPCI contractor based on our technical excellence.

“We are particularly happy and honoured to team up with JERA and ADEME Investissement, leading voices in two of the most strategic and pioneering markets for floating offshore wind that are Japan and France.”

Last October, JERA agreed to buy a 49% equity interest in the Formosa 2 offshore wind farm in Taiwan from Australian financial group Macquarie for an undisclosed fee. JERA was supported by the Development Bank of Japan for the transaction.