Brief: BW Ideol And Ademe Investissement Create A Joint Offshore Floating Wind Development Company

BW Ideol AS

05/07/2023 16:56

July 5 (Reuters) - Bw Ideol AS  BWIDL.OL :
    * BW IDEOL AND ADEME INVESTISSEMENT CREATE A JOINT OFFSHORE
FLOATING WIND DEVELOPMENT COMPANY
    * ENTERED INTO A FINAL AGREEMENT FOR A EUR 40 MILLION
FUNDING BY
ADEME INVESTISSEMENT OF BW IDEOL'S PROJECT DEVELOPMENT
ACTIVITIES
    * BW IDEOL - WILL TRANSFER ITS CO-DEVELOPMENT PROJECT
PORTFOLIO TO
BW IDEOL PROJECTS COMPANY
    * ADEME INVESTISSEMENT WILL INVEST AN INITIAL EUR 17,85
MILLION
PAID AT FIRST FINANCIAL CLOSING DATE PLANNED IN SEPTEMBER 2023
    * FOLLOWING CLOSE, BW IDEOL WILL OWN 75.8% OF BW IDEOL
PROJECTS
COMPANY, REPRESENTING POST-MONEY VALUATION OF AROUND EUR 74
MILLION

Source text for Eikon:  ID:nObigH5NPa 
Further company coverage:  BWIDL.OL 

 ((Reuters.Briefs@thomsonreuters.com;))