Ocean Winds, a joint venture between Portugal's main utility EDP with French company Engie , plans to invest 3 billion euros ($3.15 billion) to develop offshore wind projects by 2025, the chief executive of EDP told Reuters on Thursday.
, plans to invest 3 billion euros to develop offshore wind projects by 2025, the chief executive of EDP told Reuters on Thursday.
The equal partners in the venture are targeting up to 7 gigawatt of new capacity in operation or under construction by then, said CEO Miguel Stilwell d'Andrade.- and Engie to capture marine wind energy opportunities around the world.Since its creation in 2020, Ocean Winds has grown from 1.5 GW of projects under construction and 4 GW under development to a total portfolio of more than 11 GW, and is now present in seven countries.
Each partner will invest 1.5 billion euros, and the projects will also be financed "through debt and financing from other external partners." "The total accumulated amount of investment in these offshore wind projects will obviously be much higher Reporting by Sergio Goncalves; editing by Andrei Khalip
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