ENGIE and EDP Renováveis have announced the creation of Ocean Winds (OW), a joint venture equally controlled by both companies in the floating and fixed offshore wind energy sector. The new company will act as the exclusive investment vehicle to capture marine wind energy opportunities around the world and will become one of the Top 5 offshore global operators by combining the industrial and development capacity of both parent companies.
The Ocean Winds name comes from the physical sound of wind. The companies developed an algorithm and equipment to transcribe into letters the sound of the wind recorded offshore over a 48-hour period. The two most commonly occurring letters were “O” and “W”, thus giving rise to the name Ocean Winds. Find out more about the name here.
“OW has been created with the intention of combining the experience and knowledge of two companies with a successful track record in the generation of renewable energy under one single firm, in order to take a leading position in the marine wind sector,” said Spyros Martinis, CEO of OW. “We share a vision for the key role of renewables in general, and offshore in particular, in the new energy model. The creation of a company combining the experience and resources of both will give us the chance to lead a sector in this increasingly real and necessary transition.”
Grzegorz Gorski, COO of OW, added: “We are continuously monitoring the evolution and regulation of multiple countries. We are seeking not just to grow in the markets where we are already present, but also to explore opportunities to add value in new countries.”
OW will have over 200 employees at the time of its launch and expects to reach 300 toward the end of the year. The team will represent over 15 different nationalities, including highly qualified staff, almost one-third of them women and 99% with fixed employment contracts.
OW primarily targets markets in Europe, the United States and selected geographies in Asia, from where most of the growth is expected to come.
News item from OW
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