BW Ideol and Tohoku Electric Power Co. Inc. announced that both companies have signed a formal agreement and initiated the feasibility studies necessary to jointly develop a commercial-scale floating offshore wind farm off the coast of Kuji city, Iwate prefecture; project based on BW Ideol's proven and patented Damping Pool® technology. The two companies intend to collaborate very closely to contribute to the early commercialization of cost-competitive floating offshore wind power in Japan through this Iwate prefecture project.