TechnipFMC (NYSE:FTI) (PARIS:FTI) today announced it has entered into an agreement with Magnora ASA (Magnora) to jointly pursue floating offshore wind project development opportunities under the name Magnora Offshore Wind.
Magnora holds a strategic position within the renewable energy sector as an owner in offshore wind, onshore wind, and solar development projects and is a key enabler in solar energy technologies.
When combined with TechnipFMC's unique technologies, experience delivering integrated EPCI (iEPCI™) projects and its novel Deep Purple™ initiative to integrate wind and wave energy with offshore green hydrogen storage, this partnership will enable Magnora Offshore Wind to realize significant opportunities in the growing offshore floating wind market.
Magnora Offshore Wind has already commenced operations and started work on an application for the first round of seabed leasing through the Scottish government's ScotWind Leasing program. In addition, Magnora Offshore Wind will participate in the first offshore wind application round in Norway, which opens in 2021, and will also consider entering new markets in the coming months.
Jonathan Landes, President Subsea at TechnipFMC, commented: "Magnora and TechnipFMC bring together decades of combined knowledge regarding the development of profitable offshore energy projects. This partnership reflects TechnipFMC's ambition to capture a significant position in the renewable offshore energy market. We are delighted to support Magnora Offshore Wind by providing our expertise and know-how in bringing innovative offshore energy solutions to the market."
Torstein Sanness, Executive Chairman of Magnora, says: "In Magnora you find some of the world's leading experts within wind development. Coupled with TechnipFMC's project management competence and extensive service and technology portfolio, we believe we can provide a market-leading floating offshore wind offering. TechnipFMC's ‘Deep Purple™' initiative, which utilizes offshore wind to produce hydrogen for offshore assets, is another exciting avenue we will be jointly looking to explore."