French outfit Ideol is teaming up with Japanese company Acacia Renewables to develop a utility-scale floating offshore wind farm in Japan.
The partners have signed a memorandum of understanding with plans to start construction of the project in 2023.
They will utilise Ideol’s damping pool technology and Acacia’s experience in project origination, development and financing.
Acacia Renewables chief executive David Povall said: “We are truly excited about the development of the energy sector and opportunities in delivering large-scale offshore projects in Japan.”
Ideol chief executive Paul de la Gueriviere said: “The signing of such an agreement clearly demonstrates that after two full-scale demonstrators on two different continents and a pre-commercial array we are now ready for the next stage: commercial-scale deployment.”
Acacia is the Japanese renewable energy development platform of Macquarie Capital.
Meanwhile, Ideol has raised €15m, which will be used to help accelerate the commercialisation of the company’s floating wind technology.
The fundraising was led by private equity outfit Kerogen Capital, its first investment in renewables, Ideol said.
Other investors included existing shareholders Amundi Private Equity, Sofimac Regions and Paca Investments, which agreed to subscribe new shares, the company added.
Image: Ideol
Ideol team floats Japan plan
By EBS