Engineering giant TechnipFMC is teaming up with Norwegian start-up Magnora to develop offshore floating wind projects.
TechnipFMC has entered into an agreement with Magnora which will see the pair jointly pursue floating offshore wind project development opportunities.
TechnipFMC revealed the venture, which will operate under the name Magnora Offshore Wind, had already started work on an application for the first round of seabed leasing through the Scottish government’s ScotWind Leasing programme.
It will also participate in the first offshore wind application round in Norway, which opens later this year, and will also consider entering new markets in the coming months.
“Magnora and TechnipFMC bring together decades of combined knowledge regarding the development of profitable offshore energy projects,” TechnipFMC subsea president Jonathan Landes said.
“This partnership reflects TechnipFMC’s ambition to capture a significant position in the renewable offshore energy market.”
TechnipFMC says it will bring to the newly established joint venture its “unique technologies” and experience delivering integrated engineering, procurement construction and installation projects.
It will also look to utilise its novel Deep Purple initiative to integrate wind and wave energy with offshore green hydrogen storage, an area Magnora chairman Torstein Sanness said the two companies would look to further jointly explore.
“In Magnora you find some of the world’s leading experts within wind development. Coupled with TechnipFMC’s project management competence and extensive service and technology portfolio, we believe we can provide a market-leading floating offshore wind offering,” he said.
“TechnipFMC’s ‘Deep Purple’ initiative, which utilises offshore wind to produce hydrogen for offshore assets, is another exciting avenue we will be jointly looking to explore.”
Magnora already holds a strategic position in the renewable energy sector, owning offshore wind, onshore wind, and solar development projects, while it is also recently invested in Swedish solar cell technology company Evolar.