Implenia and WindWorks Jelsa have signed an investment and shareholder agreement to develop a state-of-the-art facility for the production and assembly of large concrete or steel structures for floating offshore wind turbines on Norway’s west coast.
Swiss real estate and construction services company Implenia and NorSea will become equal minority shareholders (around 41% each) of WindWorks Jelsa.
The first project phase of “pre-production” lasts from 2023 to 2026 and requires only limited financial investments said Implenia. The company’s investment is not consolidated, but accounted for using the equity method in line with the group’s asset-light strategy.
In the signed agreement, Implenia committed itself to making two small investment tranches in 2023 and 2024.
It is expected that the first concessions will be granted in December 2023.
WindWorks Jelsa intends to build floating wind turbines with a total capacity of 1GW per year, enough to power 4m homes per year.
The aim of the project in Jelsa is to cost-effectively build large concrete foundations for floating offshore wind farms. Implenia will contribute its experience and expertise in the areas of site design and planning, strategy and market development.
The project will be implemented in several phases from 2023 to 2032 and should result in a production and assembly area of 800,000 square metres. This also includes warehouses and workshops, specially developed launching facilities and heavy-duty quays.
Head of Implenia’s civil engineering division Christian Späth said the group’s know-how makes it the ideal partner for this promising industry: “Floating offshore wind farms are an interesting new area in which Implenia can draw on its many years of experience and extensive expertise can use the corporate values of sustainability, excellence, agility and collaboration profitably.
“Manufacturing floating wind turbines will be essential to the successful transition to renewable energy.”
Chairman of the board of directors of WindWorks Jelsa Geir Ims added: “The strengthening of our team with Implenia’s expertise and innovative strength in setting up cost-efficient series production of large concrete structures will make WindWorks Jelsa and the Norwegian supplier industry more competitive and for open up interesting export opportunities for everyone involved.”