French floating wind specialist BW Ideol has joined forces with Spanish renewables developer Elawan Energy to jointly develop a multi-GW floating offshore wind pipeline in Spain and Portugal.
BW Ideol said today it has signed a head of terms with the Spanish company, which was once known as Gestamp Wind and, since February, is fully owned by Japanese financial services group ORIX Corp (TYO:8591).
The partners will aim to develop several commercial-scale projects, within the framework of the upcoming tenders anticipated in Spain and in Portugal, BW Ideol explained.
The French firm is already collaborating with ORIX in Japan on the development of one of BW Ideol’s commercial-scale floating offshore wind projects.
BW Ideol chief executive Paul de la Gueriviere said the agreement is in line with the company’s dual-leg strategy as co-developer and as technology and engineering, procurement, construction and installation (EPCI) services provider.
The partnership will see Elawan Energy venture into offshore wind. “Entering the offshore business not only reinforces our commitment to environmental responsibility, but also allows us to diversify our revenue streams and open new growth horizons for Elawan Energy,” said its chief executive Dionisio Fernandez Auray.