Saipem wins EPCI deal for 500MW floating wind farm in Saudi Arabia
Oil and gas contractor to work alongside Plambeck Saudi on the offshore renewable energy project in the kingdom
Borsa Italiana-listed oil and gas contractor Saipem – formerly a subsidiary of energy firm Eni – will build a 500MW floating offshore wind farm in Saudi Arabia alongside Plambeck Saudi, part of Abu Dhabi-based Plambeck Emirates, as the kingdom expands its renewable energy projects as part of its Vision 2030 mandate.
In a statement, Saipem said that it had signed a memorandum of understanding (MoU) with Plambeck Emirates for the development and construction of the offshore facility.
The companies will begin work on the project in the “coming weeks”, the statement added, with Saipem set to provide engineering, design, construction, and installation services for the development.
Commenting on the project, Plambeck Emirates shareholder, Norbert Plambeck, said: “The development of the 500MW floating offshore wind farm project is part of the new 5GW 'Wind Market' concept, which has been proposed to Saudi Arabia."
Renewables and green tech product manager of Saipem's Xsight division, Francesco Balestrino, Saipem’s Hexafloat offshore wind farm technology would be used for the project.
He added: “Initiating the new market in Saudi Arabia is an important opportunity to be seized and we are ready with Plambeck for this new challenge.”