Ocean Winds

Associates Area

Wind Float

Ocean Winds

 

Ocean Winds results of a joint venture launched in 2019 by EDP Renováveis ​​(EDPR) and ENGIE. Both companies share the view that renewable energies, and in particular offshore wind, play a key role in the global energy transition. For this reason they created a joint venture in equal parts for offshore wind energy.

 

On June 21, the OW Ocean Winds brand was announced internationally as the exclusive investment vehicle for both companies to capture offshore wind energy opportunities worldwide.

 

This ambitious project follows on from the five-year cooperation between EDPR and Engie as consortium partners.

 

OW has a strategic advantage and is well positioned to lead the offshore market. EDPR and ENGIE are combining their offshore wind assets and project pipeline under the OW brand, starting with 1.5 GW under construction and 4.0 GW under development. This initial position, with the successful experience of internationalization of the main companies, allows us to be more flexible, more adaptive and more respectful of the cultures in which we will work.

 

OW portfolio

 

The current portfolio is spread over seven geographic regions, while the company seeks to develop green areas (either autonomously or in partnerships) in eight countries to ensure the advantage of acting in advance.

 

Currently, other countries are being evaluated from a regulatory and fundamental perspective before deciding whether or not to move forward. The portfolio under construction is progressing according to plan, despite the challenges created by COVID.

 

Wind Float Atlantic (Portugal)

Type: floating

Capacity: 25 MW

OW participation: 85%

Status: under exploration

 

Moray East (United Kingdom)

Type: fixed foundation

Capacity: 950 MW

OW participation: 56,6%

Status: in construction

 

Moray West (United Kingdom)

Type: fixed foundation

Capacity: 897 MW

OW participation: 61,6%

Satus: under development

 

Tréport & Noirmoutier (France)

Type: fixed foundation

Capacity: 992 MW

OW participation: 60,5%

Satus: under development

 

Leucate (France)

Type: floating

Capacity: 30 MW

OW participation: 80%

Satus: under development

 

B&C Wind (Poland)

Type: fixed foundation

Capacity: 400 MW

OW participation: 100%

Satus: under development

 

Seamade (Belgium)

Type: fixed foundation

Capacity: 487 MW

OW participation: 17,5%

Status: under exploration

 

Mayflower (USA)

Type: fixed at the bottom

Capacity: 1.300 a 2.000 MW

OW participation: 50%

Satus: under development

 

California (USA)

Type: floating

Capacity: 100 a 150 MW

OW participation: 100%

Satus: under development

 

KF Wind (Soth Corea)

Type: floating

Capacity: 1.200 MW

OW participation: 100%

Satus: under development

 

Goals:

 

With 5.5 GW of determined offshore assets and 7 GW in planned exploration and construction (both floating and fixed to the bottom), Ocean Winds is on track to lead the global offshore wind market. It has a unique history in floating wind farms and holds one of the largest floating offshore wind portfolios in the world, having been active in this sector since 2008. Our considerable experience in financeable floating offshore wind projects can be exemplified by the success off the Portuguese coast with Windfloat 1, the first semi-submersible structure in the world that supports a multi-MW turbine, as well as with Windfloat Atlantic, the first semi-submersible wind farm worldwide. OW is also proud of its long history in offshore wind projects fixed at the bottom.

 

The joint venture is committed to achieving 5 GW to 7 GW of projects under exploration or construction and 5 GW to 10 GW in advanced development by 2025, to become one of the top five offshore renewable energy companies. OW targets mainly the European markets, the United States of America and certain Asian countries, where most of the growth is expected to take place.

 

As a joint venture, the partners at OW Ocean Wind have a shared vision of the important role of wind energy in the transition to Rede Zero, intervening in projects from conception, through construction, to exploration and seeking to lead the development of future projects as they become available in the offshore wind market.

OW Ocean Winds will bring together skills, experience and knowledge, to intensify its efforts and commitment in the development of offshore wind energy in order to contribute to a zero carbon transition.

 

Portugal, being one of the embryonic regions of the floating offshore wind farm on a global scale and where the first offshore wind farm in OW's portfolio, (WindFloat Atlantic project) was built, is, naturally, part of the development pipeline of OW. Portugal (and islands) has a proven marine wind resource. It is the only country in Southern Europe with a track record in this sector, where OW shareholders, specifically EDP, show 10 years of commitment (since 2011, through the WindFloat Prototype). Therefore, the country can boast an interesting local skills and supply chain development. There is an excellent opportunity to continue to develop offshore wind and thus to project / increase the capacity development of the national business fabric, to attract foreign investment and to position Portugal as a hub for the offshore wind in Southern Europe, and in this way to take advantage of the maritime potential that the country inevitably and enviably has, adding another vector to the energy transition towards carbon neutrality.

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