French and Japanese Leaders Team Up to Develop Commercial Scale Floating Offshore Wind Projects
JERA (Japan’s largest utility company), ADEME INVESTISSEMENT (a 100% French State-owned investment company aiming at financing innovative infrastructure projects) and IDEOL (a global leader in floating offshore wind) have agreed on the key terms for the establishment of an investment vehicle dedicated to the financing of the development phase of at least 2 GW of projects using IDEOL’s patented Damping Pool® technology.
Upcoming tenders for commercial-scale floating offshore wind farms in Scotland and France as well as an increasing number of initiatives in promising markets across the globe such as – but not limited to - Japan and the US do confirm the acceleration of floating wind as well as its legitimate place in the global energy mix; in particular for the few market-ready technologies demonstrating a proven and bankable track-record such as IDEOL’s.
In order to take full advantage of such unique pioneering opportunities, JERA, ADEME INVESTISSEMENT and IDEOL intend to join forces by establishing an investment vehicle to finance the development phase of several floating offshore wind projects across the globe during the next 5 years, each time centered around IDEOL’s high-local content and highly competitive technology.
Satoshi Yajima (Executive Officer of JERA’s Business Development Department) comments: “JERA is enchanted to support the most promising floating foundation on the market and to be a part of its future inevitable success. We are positively assured by IDEOL’s high local content technology and we envision commercial scale projects around the globe through this partnership.”
Arnaud Leroy (CEO of ADEME, itself President of ADEME Investissement) comments: “We do believe that floating offshore wind is on its way to confirm its potential and become a substantial contributor to achieving future climate goals. This partnership aims at financing first commercial scale projects and at supporting IDEOL’s technology as both will contribute to accelerate the competitiveness of floating offshore wind.”
Paul de la Guérivière (CEO of IDEOL) comments: “This new milestone for IDEOL confirms the market-readiness of our technology and shows the relevance of our unique business model as project co-developer and co-EPCI contractor based on our technical excellence. We are particularly happy and honored to team up with JERA and ADEME INVESTISSEMENT, leading voices in two of the most strategic and pioneering markets for floating offshore wind that are Japan and France.”