Plambeck and Saipem Form Floating Wind Pact in Saudi Arabia

Abu Dhabi-based Plambeck Emirates LLC has signed a Memorandum of Understanding as well as an exclusive agreement with Saipem for the development and realization of a 500MW floating wind farm offshore Saudi Arabia.

The next steps in the development of the project will start in the following weeks via Plambeck Emirates entity Plambeck Saudi, located in Riyadh, Plambeck Emirates said.

Norbert Plambeck, a shareholder in Plambeck Emirates LLC, said: “The development of the 500 MW floating offshore wind project is part of the 5 GW New Wind Market concept, which we have proposed to the Kingdom of Saudi Arabia. We are very proud to have with Saipem an internationally experienced global solution provider on board, with whom we can jointly take the next project development steps. In addition, the implementation of the project with Saipem as a strong international group is already technically secured.”

The commencement of realization activities by Saipem as an EPCI contractor for the balance of plant is subject to the finalization of financial agreements at the end of the development phase, after which the EPCI contract will be signed.

The contract will see Saipem entrusted with the engineering, design, construction and installation of the entire project and related services. The wind turbine supplier will come on board in a later stage of the development phase of the project, Plambeck Emirates said.

Francesco Balestrino, Renewables and Green Tech Product Manager within the Xsight division says: “We believe that the Wind Market in Saudi Arabia can be boosted by innovative solutions for the construction of the offshore wind farms such as the Hexafloat, the Saipem own technology, with reduced schedule and lower costs. Starting the new Market in Saudi is an important opportunity to seize and we are ready with Plambeck for this new challenge.”