Iberian Peninsula

In May 2023, BW Ideol has signed a Head of Terms with Elawan Energy, an ORIX company based in Spain, for the joint development of a multi-GW floating offshore wind pipeline off Spain and Portugal, subject to further negotiation of the final agreement between the Parties.

Elawan Energy is a leading player in the field of renewable energy in Spain, with more than 2.6 GW of projects (solar, hydro and wind) already built and more than 8.4 GW portfolio of renewable projects under development. Elawan Energy is fully owned by ORIX Corporation, a multinational financial group headquartered in Japan, since February 2023, and benefits from a particularly strong and historical local footprint in Spain since Elawan Energy, former Gestamp Wind, was created in 2008 as one of the renewable vehicles of Acek Desarrollo y Gestión Industrial, S.L, the holding company of Riberas´ family, who currently owns Gestamp Group.
BW Ideol and ORIX Corporation already collaborate in Japan as co-development partners on one of BW Ideol’s commercial scale floating offshore wind projects currently under development.
This exclusive agreement covers the joint development of several commercial-scale projects, within the framework of the upcoming tenders expected in Spain and in Portugal.