Seaway7, Saipem to partner on fixed offshore wind projects

Marine contractors Saipem SpA (BIT:SPM) of Italy and Seaway 7 ASA (OSL:SEAW7) of Norway will partner on fixed offshore wind projects in a move expected to beef up their offering and help the companies secure enabling assets such as vessels and yards.

Under a commercial collaboration agreement, announced on Thursday, the offshore specialists will jointly identify, bid and execute fixed offshore wind projects in Europe, the UK and the US, with a potential to expand elsewhere.

The companies said they will target selected projects where their complementary assets and competencies will yield synergies and improve project economics. The partnership will cover front-end engineering design (FEED), procurement, construction, transportation and installation of foundations and inner-array cables, as well as installation of substations and wind turbines.

“Working together, we will be well-positioned to efficiently utilise complementary assets and capabilities to create differentiated technical solutions and further optimise project execution,” said Seaway7 chief executive Stuart Fitzgerald.

He added the companies’ combined fleet and expertise will expand the potential market for engineering, procurement, construction and installation (EPCI) opportunities.

Gianalberto Secchi, chief operating officer of the offshore wind business Line at Saipem, commented that the agreement will provide for a more competitive value proposition to customers.

The pact follows the companies working together on the 1,075-MW Seagreen offshore wind project in Scotland, which is scheduled to be fully operational in the first half of 2023. Saipem won a contract from Seaway7 in 2020 to install 114 turbine foundations at the project.

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