BW Ideol has signed a Head of Terms with Elawan Energy, an ORIX company based in Spain, for the joint development of a multi-GW floating offshore wind pipeline off Spain and Portugal, subject to further negotiation of the final agreement between the Parties.
Elawan Energy is fully owned by ORIX Corporation, a multinational financial group headquartered in Japan, since February 2023. BW Ideol and ORIX Corporation already collaborate in Japan as co-development partners on one of BW Ideol’s commercial scale floating offshore wind projects currently under development. This exclusive agreement covers the joint development of several commercial-scale projects, within the framework of the upcoming tenders expected in Spain and in Portugal.