BW Ideol has signed a Head of Terms with Elawan Energy, an ORIX company based in
Spain,  for the joint development of  a multi-GW floating offshore wind pipeline
off  Spain and Portugal,  subject to further  negotiation of the final agreement
between the Parties.

Elawan  Energy is a  leading player in  the field of  renewable energy in Spain,
with more than 2.6 GW of projects (solar, hydro and wind) already built and more
than  8.4 GW portfolio of renewable projects under development. Elawan Energy is
fully  owned by ORIX Corporation,  a multinational financial group headquartered
in  Japan,  since  February  2023, and  benefits  from a particularly strong and
historical  local footprint in  Spain since Elawan  Energy, former Gestamp Wind,
was  created  in  2008 as  one  of  the  renewable vehicles of Acek Desarrollo y
Gestión  Industrial, S.L, the holding company  of RiberasŽ family, who currently
owns Gestamp Group.

BW  Ideol and  ORIX Corporation  already collaborate  in Japan as co-development
partners  on one of BW Ideol's  commercial scale floating offshore wind projects
currently under development.

This  exclusive agreement  covers the  joint development  of several commercial-
scale  projects, within the framework of  the upcoming tenders expected in Spain
and in Portugal.

"We  are pleased to keep on expanding  our global project pipeline, in line with
our  dual-leg  strategy  as  co-developer  and  as  technology and EPCI services
provider.  Elawan Energy has a strong and successful local presence in Spain and
is  now  supported  by  one  of  the  biggest financial companies in Japan, ORIX
Corporation.  Together with our winning floating wind experience both in project
development  and technology delivery, we're highly  confident that we'll be able
to  develop and deliver the most competitive and credible projects" said Paul de
la Guérivière, CEO of BW Ideol.

Dionisio  Fernández Auray, CEO of Elawan Energy, also spoke about this strategic
match.  "Entering the  offshore business  not only  reinforces our commitment to
environmental  responsibility,  but  also  allows  us  to  diversify our revenue
streams  and open new growth  horizons for Elawan Energy.  We are convinced that
this  strategic partnership will provide us with the necessary expertise to meet
the  technical and  logistical challenges  inherent in  this type of project" he
said.

About BW Ideol:
BW  Ideol is a leading fully integrated  platform in floating offshore wind with
more  than  12 years  of  experience  from  design, execution and development of
floating  wind projects  based on  Ideol S.A.'s  patented floating offshore wind
technology  and  engineering  capabilities.  The  company  has a dual-leg growth
strategy  as a floater EPCI and maintenance services provider and as a wind-farm
project  developer and co-owner.  BW Ideol has  two full-scale offshore floating
wind  turbines in operation in France  and Japan, a significant project pipeline
including  1 GW under development in Scotland  and is supported by BW Offshore's
extensive  experience from  developing and  operating offshore energy production
systems. For  more information,  contact Nicolas de  Kerangal, Chief Financial &
Partnerships Officer at BW Ideol - ir@bw-ideol.com (mailto:ir@bw-ideol.com)

About  Elawan: Elawan Energy  is a global  operator in renewable energy industry
which  offers integrated solutions along the  green energy life circle, from the
promotion,  development and construction of  wind farms, photovoltaic plants and
hydropower  plants until their operation, maintenance and the sale of this green
energy  produced. Elawan  Energy is  part of  ORIX Group.? For more information,
visit : https://www.elawan.com

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act