Saipem has signed a memorandum of understanding and an exclusive agreement with Plambeck Emirates LLC for the development and construction of a 500 MW floating offshore wind farm in Saudi Arabia.
The project phases will begin in the coming weeks via Plambeck Saudi, a Plambeck company located in Riyadh.
The company can start operations after finalization of the financial agreements at the end of the planning phase, following which the contract will be signed for Saipem to undertake the engineering, design, construction, and installation of the entire project and related services.
Francesco Balestrino, Renewables and Green Tech Product Manager of the Xsight division, said: “We believe that the wind market in Saudi Arabia can be supported by innovative solutions for the construction of offshore wind farms, such as the Saipem technology Hexafloat, with an accelerated program and reduced costs.
“Initiating the new market in Saudi Arabia is an important opportunity to be seized and we are ready with Plambeck for this new challenge.”
Norbert Plambeck, shareholder of Plambeck Emirates LLC, said: “The development of the 500 MW floating offshore wind farm project is part of the new 5 GW ‘Wind Market’ concept, which has been proposed to Saudi Arabia…”