ENGIE-EDPR Offshore Wind Joint Venture Clears Another Hurdle
The European Commission has approved the acquisition of EDPR Offshore España by ENGIE and EDP Renovaveis.
EDPR Offshore España is a Spain-headquartered subsidiary of the EDP Group active in the offshore wind industry globally. The company would be the exclusive vehicle of both parties for offshore wind farm activities worldwide.
The European Commission has concluded that the proposed concentration would not raise competition concerns due to its limited impact on the market.
French energy company ENGIE and EDP Renewables, also a subsidiary of the EDP Group, agreed to create a co-controlled 50/50 joint-venture in fixed and floating offshore wind.
EDP Renewables and ENGIE are combining their offshore wind assets and project pipeline in this new entity, starting with a total of 1.5GW of projects under construction, including the 950MW Moray East in the UK, the 25MW Wind Float Atlantic in Portugal, and the 487MW SeaMade in Belgium.
The agreement also includes 3.7GW of projects under development, including the 800MW-950MW Moray West in the UK, the Tréport and Noirmoutier projects with a combined capacity of 992MW in France, the 30MW Leucate also in France, the 1,336MW Mayflower in the USA, and the 400MW B&C Wind.
The two companies have previously cooperated as consortium partners on the Dieppe Le Tréport and Yeu Noirmoutier fixed offshore wind projects in France and Moray East and Moray West in the UK. EDPR and ENGIE are also partners in two floating offshore wind projects in France and Portugal.