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)
About Jera
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 EUR400
million. For more details: https://www.ademe-investissement.fr/en/
Investment for the Future Programme : Created in 2010 and allocated EUR57 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-sgpi -
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.