Galileo and Hope Group to form Barium Bay joint venture.

Galileo, a multi-technology renewable energy development and investment company, and Hope Group, a renewable energy company, agreed to form Barium Bay joint venture to develop a new floating offshore wind farm in the adriatic sea. Financial terms were not disclosed. “Barium Bay is a landmark project thanksto both itsscale and potential contribution to Italy’s energy transition using exclusively local energy sources. The Adriatic Sea offers a winning combination of key factors that make floating offshore wind projects highly attractive for Italy: good wind speeds, vast areas, and suitable connection solutions to the national grid. Finding a valid answer to cover the electricity needs of over a million Italian households is a great source of motivation and determination!,” Ingmar Wilhelm, Galileo CEO.