Transocean and Eneti to Form Offshore Wind Foundation Installation Venture

April 20, 2023, by Adnan Durakovic

Eneti and the offshore drilling contractor, Transocean, have signed a non-binding memorandum of understanding indicating their intention to form a joint venture company that will engage in offshore wind foundation installation activities.

Illustration; Seajacks Zaratan at Akita Noshiro wind farm; Photo source: Akita Offshore Wind Corporation

The move marks Transocean’s entry into the offshore wind market.

Transocean has three hundred plus rig-years of experience operating a global fleet of dynamically positioned offshore drilling rigs to energy-producing customers on long-term contracts.

Eneti, through Seajacks International Ltd., has installed more than 500 wind turbine foundation components at wind farms including Akita & Noshiro in Japan, Meerwind and Veja Mate in Germany, and Moray East in Scotland.

The establishment and the operation of the joint venture are subject to definitive agreements which would provide for the conversion of at least two Transocean vessels into floating offshore wind foundation installation platforms; expertise and operational personnel to be provided by both Eneti and Transocean; and the right but not the obligation for both Transocean and Eneti to invest in the joint venture with additional partners.

The vessels, once converted, would be capable of carrying and installing up to six 3,500-ton, 12-metre diameter monopile foundations, the companies said. The converted vessels would feature 5,200t cranes.