Renewable energy company EDP Renewables (EDPR) and power producer ENGIE announced that their offshore European wind company Ocean Winds (OW) is launching a US arm, OW North America.
EDPR and Engie launched Ocean Winds in July 2020, to serve as both companies’ exclusive investment vehicle to capture marine wind energy opportunities around the world, covering floating and fixed offshore wind energy projects. The 50:50 joint venture created one of the top five global offshore wind operators, with 5.5 GW of committed offshore assets, and a target to reach 5 to 7 GW of projects in operation or under construction and 5 to 10 GW under advanced development by the middle of this decade.
The companies stated that OW North America is launching with a strong position in the highly attractive US renewable energy market on both the East and West Coasts. OW North America is a 50% owner of Mayflower Wind, which was awarded contracts to deliver 804 MW of offshore wind energy to Massachusetts utilities and their customers by the middle of this decade, and with a federal lease area, awarded in December 2018, with the potential to reach over 1600 MW. OW North America is also a partner in the Redwood Coast floating offshore wind project, a public-private consortium committed to developing an offshore wind project utilizing floating platform technology off the coast of Humboldt County in Northern California.
OW CEO Spyros Martinis said:
“OW will be a major element in creating the new clean, sustainable, and prosperous economy that Americans are demanding and OW North America can help to build that future. OW North America from Day One is in the business of developing and delivering real offshore wind projects.”