Thursday, March 14, 2024
SBM Offshore and Technip Energies are pleased to announce the signing of a Memorandum of Understanding 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.
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.