Engie and EDPR have officially launched Ocean Winds (OW), their new joint venture targeting the global offshore wind energy sector. The creation of the company follows a memorandum of understanding signed by the two companies in 2019 to invest jointly in global offshore wind energy opportunities. The deal was given the green light by the European Commission earlier this year.
OW will be headquartered in Madrid and equally controlled by Engie and EDPR. It will become one of the top five offshore global operators by combining the industrial and development capacity of both parent companies, Engie said in a statement.
It will combine EDPR’s and Engie’s existing offshore wind assets and project pipeline in the new company, starting with a total of 1.5 GW under construction. Spyros Martinis, CEO of OW, said: “OW has been created with the intention of combining the experience and knowledge of two companies with a successful track record in the generation of renewable energy under one single firm, in order to take a leading position in the marine wind sector. We share a vision for the key role of renewables in general, and offshore in particular, in the new energy model. The creation of a company combining the experience and resources of both will give us the chance to lead a sector in this increasingly real and necessary transition.”
Grzegorz Gorski, COO of OW, added: “We are continuously monitoring the evolution and regulation of multiple countries. We are seeking not just to grow in the markets where we are already present, but also to explore opportunities to add value in new countries.”
OW has more than 200 employees and expects to reach 300 towards the end of the year.