Make Way for Ocean Winds

July 23, 2020

EDP Renováveis and ENGIE are the latest joint venture to hit the offshore wind market. The two companies are teaming up to set up an exclusive investment vehicle called Ocean Winds (OW). OW will be capturing marine and wind opportunities on a global scale, in order to rival the largest companies in the offshore wind sector, including the likes of Orsted.

Ocean Winds expects they will become one of the top five global operators by combining the industrial and development capacity of both parent companies. OW has been created with the intention of combining the knowledge and experience of two successful operators with a proven track record to take a leading position in the wind sector.

Combining both EDPR and ENGIEs assets means that Ocean Winds are starting with a total of 1.5 GW under construction and 4.0 GW under development with targets to increase this to 5-7 GW in operation and 5-10 GW under advanced development by 2025. OW is expected to mainly focus of the European and US market and selected areas within Asia.

OW has over 200 employees and expected to reach closer to 300 towards the end of the year. Mentor IMC Group provides project resourcing solutions across all energy sectors globally via our regionally based offices. Register your CV with Mentor IMC Group today and be the first to know about new opportunities in the renewable energy market!

by Elise Reid