Renewable energy company EDP Renováveis (EDPR) and power producer ENGIE announced today the launch of offshore wind company Ocean Winds (OW). The new company will be equally controlled by both companies, and is the result of a joint venture formed between EDPR and ENGIE last year.

Headquartered in Madrid, Ocean Winds will serve as both companies’ exclusive investment vehicle to capture marine wind energy opportunities around the world, covering floating and fixed offshore wind energy projects.

According to EDPR and ENGIE, combining the industrial and development capacity of both parent companies will create one of the top five offshore wind global operators.

Spyros Martinis, CEO of OW, said:

“OW has been created with the intention of combining the experience and knowledge of two companies with a successful track record in the generation of renewable energy under one single firm, in order to take a leading position in the marine wind sector. We share a vision for the key role of renewables in general, and offshore in particular, in the new energy model. The creation of a company combining the experience and resources of both will give us the chance to lead a sector in this increasingly real and necessary transition.”

Grzegorz Gorski, COO of OW, added:

“We are continuously monitoring the evolution and regulation of multiple countries. We are seeking not just to grow in the markets where we are already present, but also to explore opportunities to add value in new countries.”

Today’s announcement follows another recent renewable energy partnership for ENGIE. Earlier this month, the company announced the formation of a partnership with climate-change solutions investor Hannon Armstrong, initiated through the sale of a 49% interest in ENGIE’s 2.3 gigawatts (GW) U.S. wind and solar portfolio.