ACCIONA Energía, a Spanish renewable energy company, has purchased a 24 percent investment in Eolink, a French start-up that creates floating foundations for offshore wind farms. Acciona Energía invested in Eolink by taking part in the French company’s financing round. No financial terms or other details of the investment have been disclosed by the company.

The revenues from the financing round will be used by Eolink to improve its floating offshore wind technology and commercialise its first 5 MW unit. The company’s floating wind turbine, which stands 150 metres high, is designed to provide enough energy to power 3,500 houses. In 2023, Eolink intends to install its first pre-commercial floating wind turbine at the SEM-REV test site off the coast of Le Croisic, France. The company has developed a pyramidal floating foundation that is designed to rotate and face the wind naturally, lowering expenses and increasing performance. 

In May 2022, Acciona Energía began construction on the MacIntyre complex, a 1,026 MW wind farm in Queensland, Australia. MacIntyre and Karara wind farms are part of the $1.4 billion wind complex. MacIntyre is a 923 MW wind farm in which ACCIONA Energía owns a 70 per cent share and Ark Energy owns the remaining 30 per cent. 

REGlobal’s Views: With the current geopolitical climate and energy security concerns, offshore wind power project pipeline is expanding quickly. Technology advancements are also keeping pace with these capacity expansions and the offshore wind market is witnessing rapid innovations focusing on improving energy production and cost efficiency. Thus, it is the right time for leading manufacturers to expand their product portfolio.