Ocean Winds joint venture to develop offshore wind projects in Australia

Ocean Winds, a 50-50 joint venture (JV) between Spanish renewables firm EDP and French energy giant Engie, has submitted an application to build offshore wind projects off the coast of Victoria, Australia. Ocean Winds, through its bidding company High Sea Wind, submitted three applications in Victoria’s Gippsland region for wind projects totaling about 4 GW of renewable energy capacity. Globally, the JV has 1.5 GW of operating renewable power generation, 1.9 GW under construction, and 13.2 GW in the development phase. By 2025, the company aims to have functional generation of 5-7 GW. This includes the 950 MW Moray East wind farm in the UK.

Ocean Winds is currently present in seven different countries including the UK, US and South Korea, but has never worked in Australia. The company recently took over the shares in a floating wind company, Principle Power, from parent company EDP.

In November 2022, Ocean Winds teamed with Bord na Móna, an Irish company, to construct offshore wind projects in Ireland. In accordance with the long-term collaboration, the two companies intended to jointly own, identify, and develop offshore opportunities along the Irish coast. The partners’ initial focus would be on Réalt na Mara, a projected wind farm off the coasts of Dublin and Wicklow, and Celtic Horizon, a planned facility off the coasts of Wexford and Waterford.