BW Ideol, JERA and ADEME Investissement partner to finance offshore floating wind projects

​​BW Ideol AS will create an investment company for financing the co-development of offshore wind projects along with JERA, Japan’s largest utility company, and ADEME Investissement, a French State-owned investment company, using BW Ideol’s patented Damping Pool technology over the next five years.

BW Ideol will hold 51 percent of the new entity, while JERA and ADEME Investissement holding 24.5 percent 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,” Paul de la Guérivière, the CEO of BW Ideol, said in a statement.

The companies said the agreement will accelerate the development of floating offshore wind and open up the possibility of using offshore energy in areas with limited potential for fixed-bottom offshore wind.

“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,” said JERA Managing Executive Officer Satoshi Yajima.