BW Ideol AS

M&A Activity • Sep 26, 2022

BW Ideol teams up with Taiya Renewable Energy for both pilot and commercial-scale projects in Taiwan

BW Ideol teams up with Taiya Renewable Energy for both pilot and commercial-scale projects in Taiwan

BW Ideol has signed a partnership agreement with Taiya Renewable Energy for the

joint development, subject to further due diligence and negotiation of the final

agreements among the Parties, of a floating offshore wind pipeline including a

50 MW floating wind pilot-project and commercial-scale projects off Taiwan.

The two-fold agreement first covers the development of a pilot project in

response to the specific tender announced by the Taiwanese government this

August. BW Ideol is granted the exclusive EPCI contract to design, engineer,

build and install the floating foundations based on its proven and highly

competitive Damping Pool technology.  Subject to the project reaching final

investment decision, COD is targeted before the end of 2026, with construction

expected to start as early as 2025.

The partnership agreement also covers the joint development of several

commercial-scale projects. Environmental Impact Assessment efforts are ongoing

to ensure a timely qualification by the time the tenders are officially

launched.

"We are pleased to pursue the growth of our global project pipeline, in line

with our dual-leg strategy as co-developer and as technology and EPCI services

provider. We are happy to join forces with Taiya  and benefit from its strong

local footprint and experience in engaging with local stakeholders.  We look

forward to actively contributing to the acceleration of commercial-scale

floating offshore wind in Taiwan and further strengthen our already strong Asian

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

Based in Taiwan, Taiya is a local renewable energy development team that focuses

on site selection and development of offshore wind farm. Through environmental

impact assessment and sound communication with local community, Taiya

proactively responds to the policies of competent authorities. Taiya Renewable

Energy has recently entered into a partnership with French energy major EDF

Renewables to jointly bid in Taiwan's upcoming auction with the Huan-Yang

bottom-fixed offshore wind project.

Richard Liu, GM of Taiya Renewable said, "Taiya is honored to sign the agreement

with BW Ideol. BW Ideol is a highly competitive and leading integrated floating

wind platform without a doubt. As a Taiwan local renewable energy development

team, our local strength is on site selection of good developing conditions with

limited environmental impacts. By joining force with BW Ideol, the two companies

can strategically connect together for asset co-developer and technical

expertise in the floating offshore wind industry."

About BW Ideol

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

more than 12 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.

About TAIYA Renewable Energy

TAIYA is a renewable energy company that is dedicated to the development,

planning and design, engineering and construction, O&M, and asset management of

offshore wind farms and strives to make use of advanced international technology

for the establishment of a local development team to create local synergy and

explore international collaboration. The team comprises of members with

extensive experience in the areas of stakeholder relationship, local supply

chain, project development, project financing, and permitting.