Saipem bolsters floating wind position with Naval Energies buy

Italian offshore energy services company Saipem and Naval Energies, a subsidiary of France’s Naval Group, have signed an agreement for the acquisition of Naval Energies’ floating wind business.

The deal covers Naval Energies’ engineering know-how on floating units, intellectual property rights, and approximately thirty resources with expertise in modelling and simulation.

The negotiations between the two companies were first reported in our Premium section back in May.

Naval Energies has more than ten years of experience in floating offshore wind and has developed a semi-submersible floater concept.

Naval Group had 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.

“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.”

The completion of the transaction is subject to obtaining the relevant administrative authorisations.

“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,” Jean-Yves Battesti, Executive Chairman of Naval Energies, said.

”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.”

Saipem is also developing the HEXAFLOAT floating wind foundation project with the compatriot Consiglio Nazionale delle Ricerche (CNR).

Apart from floating wind, Saipem is actively involved in several fixed-bottom offshore wind projects in France, including Calvados, Saint-Brieuc, and Fécamp.