Japan-based utility company JERA, ADEME Investissement, a French State-owned investment company and IDEOL have collaborated to develop commercial scale floating offshore wind projects.

The three companies have agreed to establish an investment vehicle, which aims to fund the development of at least 2GW of floating offshore wind projects worldwide in the next five years.

JERA Business Development Department executive officer Satoshi Yajima said: “JERA is enchanted to support the most promising floating foundation on the market and to be a part of its future inevitable success.

“We are positively assured by IDEOL`s high local content technology and we envision commercial scale projects around the globe through this partnership.”

The floating wind projects will be developed using Damping Pool technology

JERA said that the upcoming auctions for commercial-scale floating offshore wind projects in Scotland and an increasing number of initiatives in promising markets across the globe are expected to accelerate the development of floating wind sector.

The partnership aims to take full advantage of the opportunities resulting from the expected growth in floating wind.

The investment vehicle set up by the partners will finance the development phase of several floating offshore wind projects across the globe during the next 5 years.

The wind projects are expected to be developed using IDEOL’s patented Damping Pool technology.

Ideol CEO Paul de la Guérivière said: “This new milestone for IDEOL confirms the market-readiness of our technology and shows the relevance of our unique business model as project co-developer and co-EPCI contractor based on our technical excellence.

“We are particularly happy and honored to team up with JERA and ADEME INVESTISSEMENT, leading voices in two of the most strategic and pioneering markets for floating offshore wind that are Japan and France.”

In October last year, JERA agreed to acquire a 49% stake in the 376MW Formosa 2 offshore project in Taiwan waters from Macquarie Capital.