Saipem in new energy transition move with wave power tie-up

Milan-headquartered oil & gas contracting giant Saipem has signed a memorandum of understanding (MoU) with Finnish wave energy outfit Wello to optimise the latter’s WEC Penguin technology, in the second tie-up in as many weeks driven by the Italian company’s emerging energy transition strategy.

Leveraging a long track-record in harsh environment offshore oil engineering, Saipem said it would focus on optimising the installation procedure and operability Wello’s wave-riding energy device, which has been tested at the European Marine Energy Centre in Scotland’s Orkney Islands.

Saipem said this “synergy [with its background in offshore oil] will make it possible to obtain a competitive advantage with which to seize the commercial opportunities offered by the [marine renewable energy] sector”. It added that “in order to provide clients with new and efficient solutions, it was also investigating further applications of this same technology to the traditional infrastructures of the oil & gas market … includ[ing] offshore platforms”.

Francesco Balestrino, renewables and green technologies business development manager of Saipem’s energy transition XSight Division, said: “XSight is committed to scouting for the most innovative and promising technologies available on the market and to providing technological and financial support to their development with a view to making them suitable for commercialisation.

“Specifically, we aim to seek out and promote novel initiatives with the purpose of testing innovative technologies and helping them grow.”

Earlier this month, Saipem signed a collaboration deal with compatriot technical consultancy Studio Rinnovabili to bid on wind and solar power engineering and construction contracts in domestic and international markets.

And in March it announced plans to work with compatriot KiteGen to develop high altitude wind energy technology, as well as unveiling a floating wind turbine concept that will be installed off Ireland in 2022 as part of the EU-funded AFLOWT (Accelerating market uptake of Floating Offshore Wind Technology) project.

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