EDPR and ENGIE to create offshore wind venture
Published by Sarah Smith,
Assistant Editor
Energy Global,
EDP Renewables has announced the signing of an agreement with ENGIE to create a co-controlled 50/50 joint-venture (JV) in fixed and floating offshore wind.
The signed agreement follows the announcement of a strategic Memorandum of Understanding (MoU) on 21 May 2019. The aim of the MoU is to form a new entity as an exclusive vehicle of investment of EDPR and ENGIE for offshore wind opportunities worldwide, bringing together the industrial expertise and development capacity of both companies.
As agreed, EDPR and ENGIE are combining their offshore wind assets and project pipeline in this new entity, starting with a total of 1.5 GW under construction and 3.7 GW under development.
The agreement is subject to certain conditions precedent such as European Commission regulatory approval process. The JV is expected to be operational during 1Q2020.
Read the article online at: https://www.energyglobal.com/wind/27012020/edpr-and-engie-to-create-offshore-wind-venture/
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