Elawan Energy, BW Ideol Partner for Multi-GW Floating Offshore Wind Projects

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Construction and Engineering firm BW Ideol has signed a head of terms with Spanish clean energy major Elawan Energy for the joint development of floating offshore wind pipeline off Spain and Portugal. The two firms have not yet declared the actual capacity of the wind energy project but have said that it will of multi-GW capacity.

BW Ideol and Elawan Energy will continue to negotiate the agreement further.

The companies said that the exclusive agreement covers the joint development of several commercial scale projects, within the framework of the upcoming tenders expected in Spain and Portugal.

Elawan Energy is a leading player in the field of renewable energy in Spain, with more than 2.6 GW of projects (solar, hydro, and wind) already built and more than 8.4 GW portfolio of renewable projects under development.

Elawan Energy is fully owned by Japan-based financial group ORIX Corporation since February 2023, and benefits from a particularly strong and historical local footprint in Spain since Elawan Energy was created in 2008.

BW Ideol and ORIX Corporation already collaborate in Japan as co-development partners on one of BW Ideol’s commercial scale floating offshore wind projects currently under development.

“Elawan Energy has a strong and successful local presence in Spain and is now supported by one of the biggest financial companies in Japan, ORIX Corporation. Together with our winning floating wind experience both in project development and technology delivery, we’re highly confident that we’ll be able to develop and deliver the most competitive and credible projects,” said Paul de la Guérivière, CEO of BW Ideol.

Dionisio Fernández Auray, CEO of Elawan Energy, added, “We are convinced that this strategic partnership will provide us with the necessary expertise to meet the technical and logistical challenges inherent in this type of project.”

The Iberian Peninsula is quite in focus for renewables’ expansion these days. Recently, IberBlue Wind, an Iberian Peninsula-focused joint venture firm, announced a cross-border offshore wind project on the Spanish-Portuguese border of a massive capacity of 1.96 GW. It will be spread over an area of 530 square km.