EDPR And ENGIE Create a 50:50 Joint-Venture for Offshore Wind
Madrid, Spain - The renewable energy producer EDP Renewables yesterday (23. January 2020) signed an agreement with ENGIE to create a co-controlled 50/50 joint-venture (JV) in fixed and floating offshore wind.
As agreed, EDPR and ENGIE, are combining their offshore wind assets and project pipeline in this new entity, starting with a total of 1,500 Megawatts (MW) under construction and 3,700 MW under development, and working together to become a global top leader in the sector. The agreement is subject to certain conditions precedent such as European Commission regulatory approval process. According to EDPR, the JV is expected to be operational during the first quarter 2020.
Source: IWR Online, 24 Jan 2020