Hexicon has created a 50/50 joint venture, AvenHexicon SRL, with Bologna-based Avapa Energy with the purpose of developing floating wind power projects in Italian waters.
In addition, Hexicon will license its patented technology to AvenHexicon for use in its projects and by third parties.
As one of the main recipients of the EU Green Deal, Italy has initiated the regulatory changes needed to develop offshore wind power. In parallel with the national preparations, AvenHexicon will identify suitable sites for floating wind power parks in order to initiate the necessary permit processes as quickly as possible. AvenHexicon will also adopt and promote the use by other players of Hexicon’s patented technology for floating platforms with tilted towers.
“An important part of our business model is to enter new and promising markets as early as possible and to establish both our project development skills and technology together with local partners,” says Marcus Thor, CEO of Hexicon. “We have found a perfect partner in Avapa Energy, and with AvenHexicon we are looking forward to support Italy in its expansion of fossil-free electricity production.”
“Floating wind power with its advanced low-impact technology will play a material role in the Italian energy transition process, and we are happy to collaborate with Hexicon to develop floating wind parks in Italian waters,” adds Alberto Dalla Rosa, partner at Avapa Energy.