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Saipem to build a large offshore wind farm in Saudi Arabia

July 18, 2019


Abstract : The Italian group, leader in the engineering oil & gas and renewable energy sources, has been hired by the German group Plambeck to design, build and install the entire project that will produce 500 MW of energy in the Gulf country.

MILAN, July 17 (Class Editori) – Saipem signed a MoU with Plambeck Emirates, a solutions company in the field of renewables in Abu Dhabi, and an exclusive agreement for the development and construction of a floating offshore wind farm.

The project with Plambeck Saudi – a company of the German renewable energy group in Riyadh – will begin in the coming weeks. The partners will use their experience and know-how to carry out an innovative project, in line with the Vision 2030, the Saudi strategy to promote the country development.

Saipem will start operations after the signing of the financial agreements at the end of the project phase, following which the contract will be signed and Saipem will handle the engineering, design, construction and installation of the entire project and related services.

“We believe that the wind market in Saudi Arabia can be supported by innovative solutions for the construction of offshore wind farms such as Saipem's technology, Hexafloat, with accelerated program and reduced costs”, commented Francesco Balestrino, Renewables and Green Tech Product manager of the Xsight division. “Starting the new market in Saudi Arabia is an important opportunity to be seized and we are ready, together with Plambeck, for this new challenge”.

“The development of the 500 MW offshore floating wind project is part of the new 5 GW Wind Market concept, which was proposed to Saudi Arabia,” said Norbert Plambeck, a Plambeck Emirates shareholder. “We are very proud to have a global solution provider with international experience such as Saipem, with which to undertake the next phases of the project development. Furthermore, the implementation of the project with Saipem, a solid international group, is already assured in technical terms”.

Among all other engineering companies, Saipem has the broadest and longest experience in the area of the Gulf, in particular in Saudi Arabia – where it has been operating as special supplier for Aramco, thus contributing to the development of the country’s oil industry. Now it is hanging over the energetic transition border, moving toward cleaner and more sustainable energy sources.

According to the group’s management, the first few development steps toward green energy are already visible. This is particularly true for Saudi Arabia and India, where the company has been outlining the first few investment plans in the wind sector (offshore wind farms); meanwhile, in Saudi Arabia the group has also been working on the first development stages of the solar energy segment.

“There are some interesting investments planned for a number of big solar power stations. Most of the Middle Eastern countries can rely on their favorable climate conditions, as well as on the decreasing price of Chinese solar panels, for jumping on the varying-MW PV plants train, with all linked storage systems,” explained some sources working for the company.

Aside from the commitment to renewable energy, Saipem is also quite active in the gas production chain – another resource playing a pivotal role in the current energetic transition leading to a new mix of energy sources. In particular, the group – led by Chairman Francesco Caio and by CEO Stefano Cao – has been focusing its strategy on LNG, the cleanest fossil fuel available on the market, producing the lowest CO2 emissions and usable for powering vehicles.

“As for the offshore gas segment, we are planning some important investments in Qatar in particular, through our client QatarGas. They are focused on the North Field deposit, the biggest only-gas reservoir in the world, and on the development of concurrent refinery structures, for the liquefaction of natural gas,” added the same sources.

(Source:Class Editori)

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Keyword: offshore wind power Saudi Arabia Saipem

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