Floating wind pioneer Ideol eyes 'global champion' role as oil & gas player takes charge

Oslo-based BW Offshore invests $72m for 'strategic ownership' stake ahead of rebadging and market listing

. BW Offshore chief executive Marco Beenen.
. BW Offshore chief executive Marco Beenen.Foto: Photo: BW OFFSHORE

Oil & gas industry player BW Offshore said it will help create a “global floating wind champion” after investing in sector pioneer Ideol.

Oslo-based BW Offshore will invest €60m ($72m) to become a “strategic owner” of privately-held Ideol, which will be rebadged under a new entity called BW Ideol and steered to a stock market listing to help fund its development plans.

BW Ideol “will have clear strategic targets; growth as a technology and EPC services provider, expanding and maturing a significant portfolio of development projects and becoming a long-term asset owner and operator,” said a statement announcing the deal.