New joint venture exploring South African offshore wind market
- Business & Finance
Swedish floating multi-turbine platform designer Hexicon AB and South African wind developer Genesis Eco-Energy Developments are joining forces to explore the development of offshore wind in South Africa.
The development program will be carried out via a joint venture company in South Africa named GenesisHexicon (Pty) Ltd.
“This is the winning formula for large scale energy production in South Africa, one of the top ten long term markets on the planet for deep water deployment,” said Henrik Baltscheffsky, CEO of Hexicon.
“We are proud to have teamed up with Genesis Eco-Energy Developments that since 2002 has a proven track record developing onshore wind and solar projects and also collaborating with the government stakeholders in shaping the renewable energy policies in South Africa.”
According to Hexicon, the purpose is to jointly develop large scale floating wind projects, contribute to the oceans economy and clean energy targets for South Africa, as well as transfer the Hexicon IP for deep water deployment to the South African market.
“As one of South Africa’s pioneering wind energy development companies, the logical progression for Genesis will be to focus off-shore along South Africas coastline which has abundant unexplored resources,” said Davin Chown, MD of Genesis Eco-Energy Developments.
“This is an ideal opportunity to explore the deployment of this innovative floating wind technology from Hexicon. Now is the right time to start to develop the South African offshore wind energy market and contribute to Operation Phakisa, the Oceans Economy programme.”