SBM Offshore and Technip Energies Announce Floating Offshore Wind JV

SBM Offshore and Technip Energies are pleased to announce the signing of a Memorandum of Understanding (MoU) for the creation of a joint venture entity, EkWiL. The new company will be a Floating Offshore Wind (FOW) pure player, capable of proposing a wide range of solutions to clients.

EkWiL will combine the people expertise, engineering and delivery capabilities, and complementary technologies of Technip Energies and SBM Offshore, creating integrated floating solutions and leading delivery offerings for the Floating Offshore Wind market. This unique positioning will enhance execution certainty and cost competitiveness to these innovative projects.

The 50/50 JV will operate as a fully integrated team, bringing together knowledge, innovation, and capacities to develop the two leading-edge technologies (Semi-submersible INO15 by T.EN™ and Tension Leg Platform Float4Wind^®) covering a large spectrum of the Floating Offshore Wind market, and bring them to commercial deployment.

Bruno Chabas, CEO of SBM Offshore, commented: “Our aim is to become a recognized leading contractor in developing floating offshore wind infrastructures. Collaboration is fundamental to position our ambitions sustainably while managing the pace of infrastructure development and the challenging economics of these pioneering systems. We are pleased to share our experience with the right partner, broadening the range of solutions and reinforcing our energy transition commitment."

Arnaud Pieton, CEO of Technip Energies, added: “Joining forces and collaborating are necessary to capture the potential of the nascent floating offshore wind market. By leveraging the synergies of complementary technologies and supply chain experience, EkWiL will increase predictability to meet market demand and deliver on our ambition to provide new energy solutions.”

As is customary for transactions such as these, there are a number of matters that Parties will attend to for completion of the transactions, which includes satisfactory conclusion of due diligence, engagement with employee representative bodies to complete relevant consultations, and having in place all necessary regulatory approvals.