Saipem Acquires Naval Energies’ Floating Wind Business

Italian energy services firm Saipem has agreed to acquire the floating wind business of the French company Naval Energies, a subsidiary of Naval Group.

The business consists of Naval Energies’ engineering know-how on floating units, intellectual property rights, and approximately thirty resources with expertise in modeling and simulation.

Naval Energies has created a semi-submersible floater design and has more than a decade of experience in floating offshore wind.

Naval Group had announced at the beginning of February that it was ending its developments in the offshore renewable energy sector by starting a process aimed at the cessation of Naval Energies’ activities, including the search for a buyer for all or part of the company’s activities. 

The completion of the transaction with Saipem is subject to obtaining the relevant administrative authorizations. The financial terms were not disclosed.

Mauro Piasere, Head of Saipem Offshore New Energies Business Unit, said: “With this acquisition, we are expanding our technology portfolio and we position Saipem in the competition for the award of the floating wind project of Groix & Belle-Île, in France, for which we will leverage on our recognized expertise in executing turnkey projects, at the service of EOLFI. The know-how we are acquiring further strengthens our position in the market of offshore renewables, specifically floating wind”.

Jean-Yves Battesti, Executive Chairman of Naval Energies, said: “The combination of Saipem’s strong expertise and assets in offshore constructions and strategy in marine renewable energies with Naval Energies’ expertise in floating wind gives rise to a leading player in offshore wind. 

“We have every confidence that this new technological center, whose teams will be located in Nantes and Brest in particular, will be able to promote this promising industry in Brittany, in the Pays de la Loire but also in France and globally.”