TechnipFMC and Prysmian forge pact to 'accelerate' floating wind
Collaboration agreement between companies offering 'unique capabilities' could boost sector ramp-up
Leading offshore contractors and technology providers TechnipFMC and Prysmian have agreed to work together to tackle the subsea challenges facing floating offshore wind developers, promising to "pioneer a complete water column solution, from seabed to ocean surface".
Paris-based TechnipFMC and Milan-headquartered Prysmian said their new collaboration agreement "brings together the technologies and competencies of two offshore industry leaders" by matching TechnipFMC’s system design and integration capabilities in dynamic offshore applications with Prysmian’s leading role in the production and installation of submarine power cable systems.
In a joint statement, the two companies said that the pact will provide "unique capabilities" to "help accelerate the global development of floating offshore wind to help meet growing demand for renewable electricity".
They said they aim to deliver optimised solutions through a "fully integrated engineering, procurement, construction and installation commercial model" which will includes mooring and anchoring and both dynamic inter-array and export cable systems.
"This model will improve project economics and derisk execution plans," they stated.
TechnipFMC CEO Doug Pferdehirt commented: “The collaboration strengthens both companies’ position in this emerging market by providing an integrated solution that accelerates time to first power and reduces cost, while improving overall system reliability. This innovative subsea offering will create significant value for our customers and further differentiate TechnipFMC as the leading architect for offshore energy.”
TechnipFMC has a long history of delivering fully integrated projects, as well as products and services, to the offshore oil and gas industry and has set out to become a leading technology provider to new energy industries too.
Prysmian, the world's largest cable maker, has continued to grow as energy transition and digital transformation forms a bigger portion of its overall business. The Italian company agreed to acquire US rival Encore Wire in a $4bn deal completed in July 2024.
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