BW Ideol AS

Floating Energy Allyance moves 1GW ScotWind development forward with signing of formal option agreement

BW Ideol AS, a global leader in floating offshore wind, as part of the Floating

Energy Allyance (FEA) has signed the formal option agreement with Crown Estate

Scotland and takes a further step with the development of the 960MW floating

offshore wind farm awarded in this January's ScotWind leasing round.

The option agreement gives FEA the exclusive right to develop a 960 MW project

on the NE8 site, located some 75km off Fraserburgh. This project will implement

BW Ideol's proven and high local content technology. This significant milestone

allows the consortium to proceed with the environmental studies required for the

consent application process.

"We are pleased that the alliance's development efforts are progressing as

planned. Site investigations and environmental studies are some of the imminent

major milestones our teams are pursuing before proceeding to the consent

application. Engineering work with a particular focus on grid connection moves

fast ahead" said Paul de la Guérivière, CEO of BW Ideol.

FEA is a joint venture between BW Ideol, BayWa r.e., a global renewable energy

business, and Elicio, an experienced Belgian offshore wind developer. In

connection with the signing of the option agreement, FEA has paid the stipulated

option fee.

About BW Ideol:

BW Ideol is a leading fully integrated platform in floating offshore wind with

more than 10 years of experience from design, execution and development of

floating wind projects based on Ideol S.A.'s patented floating offshore wind

technology and engineering capabilities. The company has a dual-leg growth

strategy as a floater EPCI and maintenance services provider and as a wind farm

project developer and co-owner. BW Ideol has two full-scale offshore floating

wind turbines in operation in France and Japan, a significant project pipeline,

and is supported by BW Offshore's extensive experience from developing and

operating offshore energy production systems.

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