Key French floating wind acquisition

This investment confirms the company’s dual-track growth strategy as co-developer of floating wind projects and as floating foundation EPCI provider.

BW Ideol and Qair have been cooperating on the project since 2016 and the early development stages when the French government awarded the project on the merits of BW Ideol’s floating wind technology. Since, in 2020, TotalEnergies Renewables acquired a 20% ownership in the project.

EolMed is one of the first floating wind projects in the Mediterranean and is composed of three 10 MW Vestas wind turbines, currently one of the most powerful offshore wind turbines in operation in the market. The project will be installed 15 km off Gruissan, France.

“We are very pleased to further support the development of this flagship project and join EolMed’s existing shareholders. By licensing our floater technology, providing design and engineering services and becoming a co-shareholder of the project, we are both executing our long-term growth and value creation strategy as well as strengthening our project portfolio and our unique access to a valuable return of experience”, said Paul de la Guérivière, the CEO of BW Ideol.

The EolMed project is progressing towards final investment decision (FID) with an expected start of construction in early 2022.

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.