Eni subsidiary to invest in floating wind tech developer

Italian oil and gas company Eni SpA (BIT:ENI) on Friday said its unit Plenitude will invest in the developer of the W2Power floating wind technology -- Spanish firm EnerOcean SL.

Plenitude will initially get a 25% equity stake in EnerOcean and support its work on W2Power under a long-term partnership. technology.

With W2Power, two wind turbines are mounted on the frame of the same floater, always facing the prevailing wind. A prototype has been successfully tested in Spanish waters, making it the first multi-turbine solution to reach this level of maturity worldwide, Eni stated in the press release. It also said the technology offers very high power-to-weight ratios and the lowest levelised cost of energy (LCOE) of floating wind.

"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, which is key to delivering the much needed massive build-out of offshore wind for decarbonisation, supply security and sustainability", Plenitude CEO, Stefano Goberti noted.

Plenitude, the outpost of Eni’s decarbonisation strategy, combines the retail of power and gas with renewables production, energy efficiency services and electric mobility.

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