RENEWABLE energy company Magnora ASA has entered into an agreement with an undisclosed global offshore energy technology and service company to establish a joint floating wind company.
The new entity, dubbed Magnora Floating Wind, will initially operate on the Scottish and Norwegian markets and will consider entering new markets in the coming months.
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In Scotland, the joint venture is already working on an application for the upcoming offshore wind leasing round and is also getting ready to take part in Norway’s first offshore wind tender, which will be launched this year.
Magnora’s strategic partner has vast experience over many decades in all basins, water depths and weather conditions. It has broad experience from unique technology, local procurement and content, mass fabrication, project management, construction and installation processes.
In addition, it is amongst the most experienced companies within hydrogen, E&P and floating wind market.
A statement from Magnora said it will within a short time frame disclose more information about its undisclosed partner, including the identity of the company. It will then also provide more information about the joint company and ongoing initiatives.
Torstein Sanness, Magnora executive chairman, said: “Our joint capabilities will enable Magnora Floating Wind to become a leading player within the floating wind market.
“In addition, we believe the collaboration will be instrumental in bringing down the capital expenditure, increasing the revenue potential, and lowering the operating cost for floating wind going forward.”
