EDP Renewables (EDPR) has announced the signing of an agreement with Engie to create a co-controlled 50/50 joint-venture (JV) which will develop both fixed and floating offshore wind farms.
As agreed, EDPR and Engie, are combining their offshore wind assets and project pipeline in this new entity, starting with a total of 1.5GW under construction and 3.7GW under development. The agreement is subject to certain conditions precedent such as European Commission regulatory approval process. The JV is expected to be operational during the first quarter 2020.