Ideol is in talks with oil and gas outfit BW Offshore in relation to a potential strategic investment in the floating wind player.
BW Offshore said it is “advanced discussions” about the investment.
The provider of floating production services in oil and gas plans to provide more information about its long-term strategy and ambitions for investing in floating offshore wind at its fourth quarter 2020 trading update.
A presentation is scheduled for 19 February 2021.
Ideol has developed a floating foundation system for offshore wind turbines, called Floatgen, and has installed two full-scale demonstration wind turbines based on its patented floater design.
The French company is building up a “sizeable pipeline” of projects as co-developer in Japan, Europe and the US.
Recently Ideol signed a letter of intent with the Port of Cromarty Firth in Scotland to potentially use the port for future project development.