Chevron Invests in Offshore Wind Energy for First Time - Gov

Chevron Invests in Offshore Wind Energy for First Time - Governors' Wind Energy Coalition


Governors' Wind Energy Coalition
Chevron Invests in Offshore Wind Energy for First Time
Source: By Josh Saul and Kevin Crowley, Bloomberg • Posted: Wednesday, April 14, 2021
Chevron Corp.’s venture capital arm and Moreld Ocean Wind agreed to invest in Ocergy Inc.’s development and commercialization of floating offshore wind turbines.
The investment by Chevron Technology Ventures is its first in offshore wind. The size of the investments weren’t disclosed. Floating turbines would be useful in ocean areas that are too deep for fixed turbines.
“To my knowledge, this is the first investment by a U.S. oil major in offshore wind,” said Anthony Logan, a senior analyst at Wood Mackenzie Ltd.

Related Keywords

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