French Engie, Portugal's EDP aim be second-biggest offshore wind developer with JV

22/05/2019 08:33 Wind

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French utility Engie and Portugal’s EDP said on Tuesday they will invest 15 billion euros ($16.7 billion) with the aim of becoming the world’s number two offshore wind developer after Denmark’s Orsted.

The two utilities, which have no operational offshore wind parks so far, said they will combine their offshore wind assets and project pipelines, starting with a total of 1.5 gigawatts (GW) under construction and 4 GW under development.

 

The joint venture, which for EDP will be through its EDP Renovaveis (EDPR) renewables business, aims to reach 5-7 GW of projects in operation or construction and 5-10 GW under advanced development by 2025.

 

Orsted had cumulative installed offshore capacity of about 3 GW at the end of 2018, giving it a market share of about 16 percent, WindEurope data shows, with Germany’s E.ON, Sweden’s Vattenfall and Germany’s Innogy in second, third and fourth, each with more than 1.0 GW installed.

Source: reuters.com

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