Plenitude, a renewables-focused branch of Italian energy major Eni, is investing in Spanish floating wind specialist EnerOcean.
It will contribute capital and expertise to the development programme of EnerOcean’s W2Power floating wind technology, initially taking a 25% equity share in the company as part of a “long-term partnership”.
The goal is to make W2Power “a lead contender” for floating wind developments worldwide, with successful open sea testing having already been completed offshore Spain.
EnerOcean’s technology deploys two wind turbines onto a single floating frame, making it capable of yielding “one of the highest power-to-weight ratios and the lowest levelised cost of energy of any floating wind power technology”.
“Investing in innovative technological solutions is crucial for Plenitude to support Eni’s energy transition process and to reach the long-term targets of 15GW renewable installed capacity by 2030,” said Plenitude CEO Stefano Goberti.
“This agreement testifies Plenitude’s willingness to put its world-leading skills and offshore engineering resources into unlocking the potential of floating wind power worldwide.”
EnerOcean will continue to operate independently following the agreement. Its CEO, Pedro Mayorga, said: “Plenitude and its affiliates showed a deep awareness of all core aspects of the technology, and its scrutiny of our work over more than 10 years was meticulous but fair.
“EnerOcean is delighted to have access to Plenitude’s vast expertise and its shareholder Eni, and I am confident that we will succeed in carrying out our ambitious targets.”