Ocean Winds is the result of a 2019 joint venture by EDP Renewables (EDPR) and ENGIE. Both companies share the vision in which renewables, particularly offshore wind, play a key role in the global energy transition. That is why they created a 50-50 joint venture for offshore wind.
EDPR and ENGIE are combining their offshore wind assets and project pipeline under OW, beginning with 1.5 GW under construction and 4.0 GW under development, with the target of reaching 5-7 GW of projects in operation or construction and 5-10 GW under advanced development by 2025.
OW’s primary target markets are in Europe, the United States and selected Asian countries, from where most of the growth is expected to come.
Madrid-based EDPR is a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer. EDPR was created in 2007 to operate the Energias de Portugal (EDP) group’s renewable power business.
With sound developments in the pipeline, first class assets and a market-leading operating capacity, EDPR has experienced outstanding growth in recent years and is currently present in 28 markets across Europe, North America, South America and Asia Pacific.
ENGIE is a global reference in low-carbon energy and services. Together with its 170,000 employees, its customers, partners and stakeholders, they are committed to accelerate the transition towards a carbon-neutral world, through reduced energy consumption and more environmentally-friendly solutions. Inspired by its purpose (“raison d’être”), they reconcile economic performance with a positive impact on people and the planet, building on its key businesses (gas, renewable energy, services) to offer competitive solutions to its customers.
Turnover in 2020: 55.8 billion Euros. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe, Euronext Vigeo Eiris – Eurozone 120/ Europe 120/ France 20, MSCI EMU ESG, MSCI Europe ESG, Stoxx Europe 600 ESG, and Stoxx Global 1800 ESG).