OW is a 50:50 offshore wind joint venture, owned and created by EDP Renewables and ENGIE. Both companies believe that offshore wind energy is becoming an essential part of the global energy transition, leading to the sector’s rapid growth and increased competitiveness. That is why they have included all their existing and pipeline offshore portfolio in the new company.

OW has a strategic advantage and is well-positioned to play a leading role in the offshore market. EDPR and ENGIE are combining their offshore wind assets and project pipeline in OW, starting with a total of 1.5 GW under construction and 4 GW under development, with the target of reaching 5 to 7 GW of projects in operation or under construction and 5 to 10 GW in the advanced development stages by 2025.

OW primarily targets markets in Europe, the United States and selected geographies in Asia, from where most of the growth is expected to come.