May 21, 2019 / 1:22 PM / in 2 months

Engie, EDP to create 50-50 offshore wind joint venture

LONDON, May 21 (Reuters) - French utility Engie and Portuguese power company EDP will create a 50-50 joint venture in fixed and floating offshore wind, the companies said on Tuesday.

The two companies will combine their offshore wind assets and project pipelines, starting with a total of 1.5 gigawatts (GW) under construction and 4 GW under development.

They aim to reach 5-7 GW of projects in operation or construction and 5-10 GW under advanced development by 2025. The new venture will initially target markets in Europe, the United States and Asia, the companies said.

Reporting by Nina Chestney, editing by Louise Heavens

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