BW Ideol AS

BW Ideol acquires 5% ownership in 30 MW EolMed floating wind pilot project (France)

BW Ideol has signed an agreement to acquire a 5% ownership in the 30MW EOLMED

floating wind pilot project in the French Mediterranean. This investment

confirms the company's dual-track growth strategy as co-developer of floating

wind projects and as floating foundation EPCI provider.

BW Ideol and Qair have been cooperating on the project since 2016 and the early

development stages when the French government awarded the project on the merits

of BW Ideol's floating wind technology. Since, in 2020, TotalEnergies Renewables

acquired a 20% ownership in the project.

EolMed is one of the first floating wind projects in the Mediterranean and is

composed of three 10 MW Vestas wind turbines, currently one of the most powerful

offshore wind turbines in operation in the market. The project will be installed

15 km off Gruissan, France.

"We are very pleased to further support the development of this flagship project

and join EOLMED's existing shareholders. By licensing our floater technology,

providing design and engineering services and becoming a co-shareholder of the

project, we are both executing our long-term growth and value creation strategy

as well as strengthening our project portfolio and our unique access to a

valuable return of experience", said Paul de la Guérivière, the CEO of BW Ideol.

The EolMed project is progressing towards final investment decision (FID) with

an expected start of construction in early 2022.

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and subject to the disclosure requirements pursuant to

Section 5-12 the Norwegian Securities Trading Act. This stock exchange release

was published by Marie Bayard-Lenoir, Communication Officer at BW Ideol, on

December 1 at 8:50 CET.

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