Floating wind shake-up as SBM and Technip Energies join forces amid 'challenging economics'
Players with background in oil & gas plan JV called EkWiL to offer 'wide range of solutions'
Two of the key players in the floating wind platform technology market – SBM Offshore and Technip Energies – unveiled plans to pool their efforts under a new joint venture called EkWiL that will help manage the "challenging economics" of the fledgling sector.
The pair signed a memorandum of understanding to create the JV, which they said will be a floating wind "pure player" able to offer "a wide range of solutions to clients".
The 50/50 JV will advance the two main technologies the pair have until now pursued separately – Technip Energies’ semi-submersible INO15 and the Float4Wind tension-leg platform (TLP) from SBM Offshore.
Oil & gas player SBM Offshore unveiled Float4Wind in 2022 as the second-generation design of its TLP, claiming it had been engineered for manufacturability, with inclined tension legs designed to reduce nacelle motions to boost turbine output from a smaller marine ‘footprint’.
Bruno Chabas, CEO of SBM Offshore, said: "Our aim is to become a recognised leading contractor in developing floating offshore wind infrastructures. Collaboration is fundamental to position our ambitions sustainably while managing the pace of infrastructure development and the challenging economics of these pioneering systems."
The alliance comes as the fledgling global floating wind market grapples with the challenges of moving to large-scale deployments against the background of steep cost increases over the last few years.
Platform providers are jostling to be ready to supply huge projects on the blocks in markets such as Scotland and South Korea while satisfying developers’ demands for cost-competitiveness and the ability to industrialise floater production.
The partners said finalising the agreement was subject to due diligence, regulatory approval and other consultations.
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