Subsea 7 announces floating wind acquisition

Wind energy – floating wind

Subsea 7 today announced that it has entered into an agreement to acquire a majority interest in the equity of Nautilus Floating Solutions.

Nautilus is a developer of technology for the floating wind market-based in Bilbao, Spain, and has developed a promising concept for a floating wind foundation based on a semi-submersible steel structure that supports a centrally-placed wind turbine.

Subsea 7 will provide technical expertise, and engineering and project management capabilities, to support the advancement of this design and it is envisaged that the concept will be included in tenders for demonstrator or pilot projects in 2021 and beyond.

Subsea 7 will acquire a controlling interest of 59.12% in Nautilus and the company will remain an autonomous company with strong roots in the Basque Country of Spain, teaming with its network of regional, national and international partners.

It will benefit from the support of Subsea 7 in various upcoming bids with key clients in the floating wind industry. While actively supporting the further development of the Nautilus concept, Subsea 7 will also continue to engage with other technology providers to support client, regional or supply chain specificities.

Subsea 7 and Nautilus will collaborate closely with Seaway 7 ASA (the recently announced combination of Subsea 7’s fixed wind activities and OHT ASA3) to ensure aligned client engagement and that the capabilities within the broader group are fully leveraged.

Original Source: https://ocean-energyresources.com/2021/08/02/subsea-7-announces-floating-wind-acquisition/