Japan’s largest power company, JERA, French government-owned financing body Ademe and international floating wind technology outfit Ideol have agreed the “key terms” for an investment vehicle that aims to develop 2GW or more large-scale projects in the world’s major deep water markets within the next five years.

Together, the three plan to start with bids on upcoming tenders for commercial-scale floating wind farms in Scotland and France along with projects in a growing number of plays in promising emerging markets including Japan and the US Pacific, to accelerate the sector toward its “legitimate place in the worldwide energy mix” via a billion-dollar capital spend.