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BW Ideol, JERA and ADEME Investissement forge floating alliance

By: Tom Russell 05/01/2022 BW Ideol

General Windfarms

BW Ideol AS, JERA, one of Japan’s largest utility companies, and ADEME Investissement, a French State-owned investment company, have executed an agreement 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 five 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, 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” commented 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 a focus primarily on energy solutions in two areas: large-scale renewable energy centered on offshore wind power generation and LNG value chains.

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.

BW Ideol is a fully integrated platform in the floating offshore wind sector, 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.

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BW Ideol, JERA and ADEME Investissement forge floating alliance

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