(PRESS RELEASE) LA DÉFENSE, France, 24-Jan-2020 — /EuropaWire/ — ENGIE announces 50/50 joint-venture (JV) agreement with EDPR (edp renewables), bringing together the industrial expertise and development capacity of both companies in fixed and floating offshore wind.
The agreement follows the announcement of an MoU to create a new entity for offshore wind opportunities worldwide as an investment vehicle for ENGIE and EDPR.
The joint venture covers combined offshore wind assets and project pipeline of ENGIE and EDPR. The agreement includes a total of 1.5 GW* under construction and 3.7 GW** under development. Both companies agreed to cooperate on becoming a worldwide leader in this sector.
The partnership announced today depends on certain conditions namely European Commission regulatory approval process. The joint venture is expected to operate in the first quarter of 2020.
EDPR is a global leader in the renewable energy sector.
ENGIE is a multinational electric utility company which operates in the fields of energy transition, electricity generation and distribution, natural gas, nuclear, renewable energy and Petroleum.
* Corresponding to 100% of projects capacity: Moray East (950 MW), Wind Float Atlantic (25 MW), SeaMade (487 MW)
** Corresponding to 100% of projects capacity: Moray West (800-950 MW), Tréport & Noirmoutier (992 MW), Leucate (30 MW), Mayflower (1,336 MW of each 804 MW with tariff awarded), B&C Wind (400 MW)
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