BW Ideol and Elawan target multi-gigawatt floating offshore wind off Spain and Portugal

Floating specialist BW Ideol has signed a preliminary agreement with renewables developer Elawan Energy to target a multi-gigawatt scale pipeline of deepwater offshore wind projects off the Iberian peninsula.

Their agreement comes ahead of offshore wind tenders due to take place in Spain and Portugal.

The pair have not provided further details of the projects in their pipeline.

They are already co-operating on one of BW Ideol’s commercial-scale floating offshore wind farms in Japan.

Spanish developer Elawan Energy is fully owned by Japanese financial group Orix Corporation, and has already built 2.6GW of solar, hydro and onshore wind, and is developing a further 8.4GW.

Its CEO Dionisio Fernández Auray said entering offshore wind will enable the company to diversify its revenue streams.