Renewables (EDPR) and ENGIE have officially signed an agreement to create
a co-controlled 50/50 joint-venture (JV) targeting fixed and floating offshore
wind development. The agreement signed today follows an announcement in
May 2019 that a strategic Memorandum of Understanding (MoU) to form a new
entity as exclusive vehicle of investment and form a global top-5 player
in the field.
As agreed, EDPR and ENGIE, are combining their offshore wind assets and
project pipeline in this new entity, starting with a total of 1.5 GW under
construction and 3.7 GW under development. The two companies aim to reach
5-7 GW of projects in operation or construction and 5-10 GW under advanced
development by 2025. The JV will primarily target markets in Europe, the
United States and selected geographies in Asia, where the two companies
anticipate the most of the growth is expected to come from.
The alliance follows EDPR and ENGIE’s six-year cooperation as consortium
partners in a number of offshore wind farms. This includes Dieppe
fixed offshore wind projects in France and Moray
West in the
The agreement is subject to certain conditions precedent such as European
Commission regulatory approval process with JV expected to be operational
during the first quarter 2020.
For more information on offshore wind
farms worldwide, click