BW Offshore eyes investment in Ideol

In: Corporate
BW Offshore has announced that it is in advanced discussions related to a potential strategic investment in Ideol S.A.

Ideol is actively involved with the development of floating offshore wind, both pre-commercial and commercial-scale projects, in France and Japan. It has designed and deployed its damping pool floating foundation technology at the
Floatgen and Hibiki offshore wind projects, off the coasts of France and Japan. It is a privately held company based in La Ciotat, France.

Ideol developed a floating barge foundation design, featuring a 5,000 tonne ring-shaped hollow concrete float. The shape is designed so that water movement within the central opening will counteract the motion of the floater caused by wave swell and stabilises the structure.

BW Offshore plans to provide more information about its long-term strategy and ambitions for investing in floating offshore wind at the Q4 2020 trading update presentation scheduled for 19th February 2021.

BW Offshore provides floating production services for the oil and gas industry. The company also participates in developing proven offshore hydrocarbon reservoirs. It owns a fleet of 15 Floating Production Storage and Offloading (FPSO) vessels. The company has executed 40 FPSO and FSO projects.

For more information on floating offshore wind farms worldwide, click here.

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