Monday , July 4 2022

EDP ​​partner and Engie to create a world leader in wind energy – Energy



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EDP ​​Renováveis ​​and Engie have entered into a strategic agreement to create a joint partnership in the offshore wind, fixed segment and as needed, the company led by João Manso Neto in the statement which announced to the Market Guarantee Commission (CMVM). "EDPR and ENGIE will combine their offshore wind assets and projects being developed in the new joint venture, starting with a total construction of 1.5 GW1 and 4.0 GW2. is being developed, with the aim of achieving 5 to 7 GW3 projects in progress or construction and 5 to 10 GW3 in advanced development by 2025. "

In a second statement, EDP says that this "joint venture" will become one of the five largest offshore operators in the global area, combining industrial competence and the ability to develop both. company. "

This partnership is expected to be "operational by the end of 2019," said the statement.

"The new entity will be the unique investment vehicle of EDPR and ENGIE for offshore wind opportunities worldwide and will become one of the top five offshore operators worldwide, combining industrial competence and development capability. Both companies ", assume that the company.

The "joint venture" announced now will focus on markets in Europe, the US and some regions of Asia, where growth is expected to grow. "

In addition, companies are moving forward with the aim that this partnership is "self-funded".

"We are delighted to announce this strategic alliance with the EDP, which we have been working with since 2013," said Engie chief executive, Isabelle Kocher, in a statement. "Creating this initiative will allow us to take advantage of market opportunities while increasing our competitiveness in one of our key development factors, renewable energy." This agreement is also in line with the Engie, "said the same person. T

"This agreement for offshore wind is an important step in the EDP's strategy for renewable energy. We are fully committed to the energy transformation and to a more sustainable future, as shown. T by the ambitious goals published ", in presenting the EDP strategic plan, António Mexia, also quoted in a statement, was highlighted.

Partnership is "natural step"

The announcement about the creation of this partnership was made by António Mexia, CEO of the EDP and Isabelle Kocher, the conductor of Engie, in London on Tuesday.

For António Mexia, this union is a "natural step" and makes "all the sense because we have known them for a long time, and we have worked together for a number of years." A view shared by Isabelle Kocher, the creation of this joint venture makes perfect sense for Engie as we focus heavily on wind energy. The companies have joint projects in the UK, France and Portugal through the Windfloat project.

The SDP lead also noted that this partnership provides for the integration of current corporate assets in this segment, but also a future. And we are creating even more potential to explore new markets.

"By 2030, we will have enormous potential to grow. The idea is also to join new markets such as Japan and South Korea, markets that are relevant and have great potential," said António Mexia. "It will be an interesting journey," said the energy leader.

The new company, whose name will be disclosed by the end of the year, will be located in Madrid. And as his president Spyridon Martinis, he will be administrator EDP Renováveis.

(News updated with more information at 15:20)

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