Ideol to raise EUR 15m, teams up with Macquarie in Japan
Floating wind by Ideol. Picture taken from ideol-offshore.com.
French floating foundations developer Ideol said today it has agreed a EUR-15-million (USD 18.3m) capital funding round and unveiled a pact for the development of Japan’s first utility-scale commercial floating offshore wind farm.
The company will raise the specific sum from private equity fund manager Kerogen Capital and existing shareholders, including Amundi Private Equity, Sofimac Regions and Paca Investment. Ideol noted that this latest funding round secures its long-term funding requirements and will speed up the commercialisation of its product in key geographies.
The transaction will see Kerogen representatives joining Ideol’s board of directors.
Also today, Ideol announced a recently-signed memorandum of understanding (MoU) with Macquarie Capital’s Japanese renewable energy development platform Acacia Renewables for a commercial project off the coast of Japan. Acacia will be useful with its experience in project origination, development and financing, according to the statement.
The pair is already working on the project and anticipates to begin construction in 2023.
“The signing of such agreement clearly demonstrates that after 2 full-scale demonstrators on 2 different continents and a pre-commercial array we are now ready for the next stage: commercial-scale deployment,” said Paul de la Gueriviere, CEO of Ideol.