Ocean Winds is the result of a joint venture announced in 2019 by EDP Renewables (EDPR) and ENGIE. Both companies share the vision in which renewables, particularly offshore wind, play a key role in the global energy transition. That is why they created a 50-50 joint venture for offshore wind.
OW has a strategic advantage and is well positioned to play a leading role in the offshore market. EDPR and ENGIE are combining their offshore wind assets and project pipeline under OW, beginning with 1.5 GW under construction and 4.0 GW under development, with the target of reaching 5-7 GW of projects in operation or construction and 5-10 GW under advanced development by 2025. OW’s primary target markets are in Europe, the United States and selected Asian countries, from where most of the growth is expected to come.
This ambitious joint venture comes in the wake of EDPR’s and ENGIE’s successful five-year cooperation as consortium partners.
This starting position, and, together with both parent companies’ successful internationalization experience, allows us to be more flexible, more adaptive and more respectful towards the cultures we chose to work in.