Saipem has signed an agreement for the acquisition of French outfit Naval Energies’ floating offshore wind business.
The Italian offshore energy services company says the deal includes Naval Energies’ engineering know-how on floating units, intellectual property rights and approximately thirty resources with expertise in modelling and simulation.
Naval Energies, a subsidiary of Naval Group, has more than 10 years of experience in floating offshore wind and has developed a semi-submersible floater concept, which it claims is one of the best in the market.
Naval Group announced at the beginning of February that it was ending its developments in the offshore renewable energy sector by starting a process aimed at the cessation of Naval Energies’ activities, including the search for a buyer for all or part of the company’s activities.
Saipem says the transaction has no material effect on its financial position.
The completion of the transaction is subject to obtaining the relevant administrative authorisations.
Head of Saipem New Energies Business Unit Mauro Piasere said: “With this acquisition, we are expanding our technology portfolio and we position Saipem in the competition for the award of the floating wind project of Groix & Belle-Île, in France, for which we will leverage on our recognised expertise in executing turnkey projects, at the service of EOLFI.
“The know-how we are acquiring further strengthens our position in the market of offshore renewables, specifically floating wind.”
Executive chairman of Naval Energies Jean-Yves Battesti said: “The combination of Saipem’s strong expertise and assets in offshore constructions and strategy in marine renewable energies with Naval Energies’ expertise in floating wind gives rise to a leading player in offshore wind.
“We have every confidence that this new technological center, whose teams will be located in Nantes and Brest in particular, will be able to promote this promising industry in Brittany, in the Pays de la Loire but also in France and globally.”