Norwegian state-owned energy giant Equinor has formed a new floating wind strategic collaboration with engineering firm Technip Energies.
Together the companies will develop floating wind steel semi-substructures that aim to accelerate technology development and drive down costs.
By teaming up at an early design phase, Equinor (OSLO: EQNR) and Technip Energies aim to unlock value from leveraging complementary skills in technology and fabrication.
Equinor is already a leading developer of floating offshore wind, and is behind the world’s first commercial development, Hywind Scotland near Peterhead.
Mette Ottoy, chief procurement officer, Equinor, said: “We see longer-term collaboration from an early phase as the next step within floating offshore wind development. This will also enable us to identify and create opportunities for the local supply chain in the markets where we are present.”
Beate Myking, senior vice president for renewables solutions in Equinor, said: “We’re excited about our collaboration with Technip Energies, which allows us to further leverage and develop our floating toolbox to customize locally adapted industrial solutions for future floating offshore wind projects.”
Floating wind allows developers to place turbines further out to sea, where wind speeds are stronger and more consistent.
There is a great deal of expectation on the technology, with around 80% of the world’s wind resources located in deep waters.
Currently floating wind is currently more expensive than fixed bottom though, and there is still a way to go for it to reach commerciability.
From building the world’s first floating turbine, Hywind Demo, to Hywind Scotland, Equinor reduced the cost per megawatt by 70%.
With Hywind Tampen, which will be the world’s largest floating wind farm located off the coast of Norway, costs have been further reduced by 40%.
“We have already started to see early signs of value creation from this way of working in our early-phase floating wind projects in Southern Brittany in France and Firefly in South Korea,” says Ms Myking.
“We believe partnering is an essential step to reach net-zero. We are proud to enter this strategic partnership with Equinor, a long-lasting client with which we share a common vision and commitment: create a low-carbon future, said Laure Mandrou, senior vice president carbon-free solutions business line of Technip Energies.