BW Offshore in advanced discussions related to investment in leading floating offshore wind solutions provider Ideol S.A.

BW Offshore in advanced discussions related to investment in leading floating offshore wind solutions provider Ideol S.A.

BW Offshore today announced that the company is in advanced discussions related to a potential strategic investment in Ideol S.A., a global leader and pure player in floating offshore wind solutions.

Ideol is an established provider of floating foundations for offshore wind with more than a decade of experience from engineering and supporting floating offshore wind projects from conception to installation. The company has installed two full-scale demonstration wind turbines based on its patented floater design and is currently building up a sizeable pipeline of projects as co-developer in Japan, Europe and the US. Ideol is a privately held company, based in La Ciotat, France.

BW Offshore plans to provide more information about its long-term strategy and ambitions for investing in floating offshore wind at the Q4 2020 trading update presentation scheduled for 19 February 2021. 

BW Offshore will update on the discussions and potential transaction regarding Ideol as and when appropriate.

For further information, please contact:
Anders S. Platou, Head of Corporate Finance, +47 99 50 47 40
IR@bwoffshore.com or www.bwoffshore.com

About BW Offshore:

BW Offshore is a leading provider of floating production services to the oil and gas industry. The company also participates in developing proven offshore hydrocarbon reservoirs. BW Offshore is represented in all major oil and gas regions world-wide with a fleet of 15 owned FPSOs. The company has more than 35 years of production track record, having executed 40 FPSO and FSO projects. BW Offshore is listed on the Oslo Stock Exchange.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act