EnergyWatch

BW firm pursues IPO and targets 10 GW floating wind by 2030

After acquiring Ideol, BW Offshore targets a listing in Oslo for its new floating wind company. At least 1.5 GW must be operational before the end of the decade, with returns above 15 percent.

Photo: Ideol

Another Norwegian floating wind company is about to see the light of day. After last month's acquisition of a 50-percent stake in French developer and producer of floating wind turbine platforms Ideol, BW Offshore on Thursday submits an application to list the new company, BW Ideol, on Euronext Growth Oslo.

The new company's business model is based on becoming a long-term owner of floating wind farms. This will take place via both project development and co-ownership of projects in joint ventures on key markets where BW Ideol thinks it holds a strong position, and as EPCI supplier of floaters on markets dominated by other developers.

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