BW Ideol AS, a global leader in offshore floating wind, has executed an investment agreement with JERA, Japan’s largest utility company, and ADEME Investissement, a French State-owned investment company aiming at financing innovative infrastructure projects funded by the Investment for the Future Program, to create an investment company for financing the co-development of offshore wind projects using BW Ideol’s patented Damping Pool® technology over the next 5 years.
BW Ideol will hold 51% of the new entity, with JERA and ADEME Investissement holding 24.5% each. The final agreement is in line with the Key Terms signed by the three parties in 2020.
“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. 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” said Paul de la Guérivière, the CEO of BW Ideol.
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”.
“We do believe that floating offshore wind is on its way to confirm its potential and become a substantial contributor to achieving future climate goals. This partnership aims at financing first commercial scale projects and at supporting BW Ideol’s technology as both will contribute to accelerate the competitiveness of floating offshore wind” comments Arnaud Leroy (CEO of ADEME, itself President of ADEME Investissement)
Established in 2015 as an equal joint venture between two major Japanese electric companies (TEPCO Fuel & Power Incorporated and Chubu Electric Power Company), JERA is an energy company with global reach and strengths across the entire energy supply chain from participation in fuel upstream projects and procurement through fuel transportation and power generation.JERA’s mission is to provide cutting-edge solutions to the world's energy issues by offering to other countries energy supply models established in Japan through JERA’s global operations. Looking toward 2025, JERA focuses primarily on energy solutions in two areas: large-scale renewable energy centered on offshore wind power generation and LNG value chains. To further drive existing initiatives and clarify its long-term vision, JERA established its "JERA Zero CO2 Emissions 2050" objective in October 2020 based on the development of renewable energy and zero-emission thermal power generation using ammonia and hydrogen.For further details: https://www.jera.co.jp/english/
About ADEME Investissement
Created in December 2018 as part of the Investment for the Future programme, ADEME Investissement SAS aims to finance innovative infrastructure projects in the area of ecological and energy transition alongside with private investors. ADEME Investissement is 100% held by the French State and has a budget of €400 million. For more details: https://www.ademe-investissement.fr/en/Investment for the Future Programme : Created in 2010 and allocated €57 billion, the Investments for the Future programme aims to stimulate employment, boost productivity and increase the competitiveness of French businesses by encouraging investment and innovation in priority sectors to drive growth and employment The third round of the Invesment for the Future Programme was launched by the French Prime Minister on 25th September 2017, under the Grand Plan d’Investissement (GPI). For more details : http://www.gouvernement.fr/secretariat-general-pour-l-investissement-sg… - Twitter : @SGPI_avenir
About BW Ideol:
BW Ideol is a leading fully integrated platform in floating offshore wind with more than 10 years of experience from design, execution and development of floating wind projects based on Ideol S.A.'s patented floating offshore wind technology and engineering capabilities. The company has a dual-leg growth strategy as a floater EPCI and maintenance services provider and as a wind-farm project developer and co-owner. BW Ideol has two full-scale offshore floating wind turbines in operation in France and Japan, a significant project pipeline, and is supported by BW Offshore's extensive experience from developing and operating offshore energy production systems.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Marie Bayard-Lenoir, Communication Officer at BW Ideol, on January 5 at 10:15 CET.