Saipem Acquires Naval Energies Floating Wind Business


Saipem, an Italian multinational oilfield services company, and Naval Energies, a company that specializes in marine renewable energies, have signed an agreement for the acquisition of Naval Energies’ floating wind business, consisting of the company’s engineering know-how on floating units, intellectual property rights, and approximately 30 resources with expertise in modeling and simulation. The transaction has no material effect on Saipem’s financial position.

Naval Group 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 is subject to obtaining the relevant administrative authorizations.

“With this acquisition, we are expanding our technology portfolio and we position Saipem in competition for the award of the Groix & Belle-Île floating wind project in France,” says Mauro Piasere, head of the offshore and new energies business unit at Saipem. “The know-how we are acquiring further strengthens our position in the market of offshore renewables, specifically floating wind.”

Notify of
Inline Feedbacks
View all comments