BW Offshore, which specialises in providing floating production services to the offshore oil and gas industry, has confirmed that it is in ‘advanced discussions’ related to an investment in floating offshore wind solutions provider Ideol
Ideol is a privately held company, based in La Ciotat, France. It is best known for its ‘Damping Pool’ floating foundation for offshore wind turbines and more recently for the application of the Damping Pool concept to offshore substations.
The French company is already established as a provider of floating foundations for offshore wind with more than a decade of experience from engineering and supporting floating offshore wind projects from conception to installation.
Ideol has installed two full-scale demonstration wind turbines based on its patented floater design and is building a sizeable pipeline of projects as a co-developer in Japan, Europe and the US.
BW Offshore said it plans to provide more information about its long-term strategy and ambitions in floating offshore wind in a Q4 2020 trading update scheduled for 19 February 2021.
The company said it will provide an update on discussions and details of any potential transaction as and when appropriate.