BW Offshore in Discussions to Invest in Floating Offshore Wind Firm Ideol

Source: www.gulfoilandgas.com 2/10/2021, Location: Europe

BW Offshore is in advanced discussions related to investment in leading floating offshore wind solutions provider Ideol.

BW Offshore announced that the company is in advanced discussions related to a potential strategic investment in Ideol S.A., a global leader and pure player in floating offshore wind solutions. Ideol is an established provider of floating foundations for offshore wind with more than a decade of experience from engineering and supporting floating offshore wind projects from conception to installation. The company has installed two full-scale demonstration wind turbines based on its patented floater design and is currently building up a sizeable pipeline of projects as co-developer in Japan, Europe and the US. Ideol is a privately held company, based in La Ciotat, France.

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 19 February 2021.

BW Offshore will update on the discussions and potential transaction regarding Ideol as and when appropriate.


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