Renewable

January 5 (Renewables Now) - BW Ideol AS has signed an investment agreement with Japanese utility JERA Co Inc and French state-owned investor ADEME Investissement SAS in relation to the creation of a new firm to finance the co-development of floating offshore wind projects.

Under the terms of the deal, BW Ideol will hold a 51% stake in the new investment firm, while the other two partners will take 24.5% each. The newly-created entity will seek to support projects that utilise BW Ideol’s patented Damping Pool technology over the next five years.

“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,” said Satoshi Yajima, JERA Managing Executive Officer.

BW Ideol already has an established relationship with ADEME Investissement’s sponsor – the Investment for the Future Program. The two worked together on the financing of the 2-MW Floatgen demonstrator off the coast of Le Croisic on the offshore experimentation site of the Ecole Centrale de Nantes (SEM-REV).