In any market where product prices are just expected to keep falling and falling, the idea of consolidation is attractive, usually followed by combining central services like sales, marketing and finance to cut costs. We have seen a fair few of these in Renewables over the past few months and even weeks and now Portugal’s EDP and French specialist renewable player Engie are putting their wind units together to push into being one of the global top offshore wind specialists. The deal is not laid out in detail and at present just a Memorandum of Understanding has been created, and legal paperwork will follow. The joint venture will be co-controlled, and held 50% each with EDP’s shares held through its…