BW Ideol, a provider of floating wind solutions, has recently signed a Head of Terms agreement with Elawan Energy, a renewable energy company, to jointly develop a multi-gigawatt (GW) floating offshore wind pipeline in Spain and Portugal. This exclusive agreement marks a significant milestone in the companies' efforts to participate in the upcoming tenders in the Iberian countries.
Under the agreement, BW Ideol and Elawan Energy will collaborate on the development of several commercial-scale projects, leveraging their respective expertise and experience in project development and technology delivery. BW Ideol, as a co-developer and provider of technology and engineering, procurement, construction, and installation (EPCI) services, aims to expand its global project pipeline in accordance with its dual-leg strategy.
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Elawan Energy brings to the partnership a strong local presence in Spain, having successfully established itself as a prominent player in the renewable energy sector. Since its creation in 2008 as Gestamp Wind, a renewable vehicle of Acek Desarrollo y Gestión Industrial, Elawan Energy has built over 2.6 GW of renewable projects, including solar, hydro, and wind, with an additional 8.4 GW of projects currently under development.
Notably, Elawan Energy is now fully owned by ORIX Corporation, a major multinational financial group headquartered in Japan, since February 2023. ORIX Corporation's support further strengthens Elawan Energy's position as it embarks on this joint endeavor with BW Ideol.
Paul de la Guérivière, CEO of BW Ideol, expressed confidence in the partnership's ability to develop and deliver highly competitive and credible projects, given their collective expertise and proven track record in the floating wind industry.
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As the demand for clean and sustainable energy continues to grow, the collaboration between BW Ideol and Elawan Energy represents a significant step towards advancing the adoption of floating offshore wind technology in the Iberian Peninsula. With the combined strengths of both companies, this joint venture holds great promise for the future of renewable energy in Spain and Portugal.
