The strategic collaboration between Equinor as a leading floating offshore wind developer and Technip Energies (PARIS: TE) as a complete offshore wind solutions provider, was signed during the Seanergy conference in Normandie, France. The two companies aim to develop floating wind steel SEMI substructures that accelerates technology development for floating offshore wind, ensures cost reductions and develops local value opportunities.

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The collaboration builds on the two companies’ joint ambition to drive industrialization of floating offshore wind. By teaming up at an early design phase of a floating wind farm project, the two parties seek to unlock value from integration and maximum use of fabrication capacities.

Laure Mandrou, Senior Vice President Carbon-Free Solutions of Technip Energies, said “We believe partnering is an essential step to reach net-zero. We are proud to enter this strategic partnership with Equinor, a long-lasting client with which we share a common vision and commitment: create a low-carbon future. This agreement extends our recent collaboration in the Floating Offshore Wind field, creating unique synergies by combining Technip Energies’ and Equinor’s respective experiences in the development of core technologies and the delivery of groundbreaking projects.”

Beate Myking, Senior Vice President for Renewables Solutions in Equinor, commented: “We are excited about our collaboration with Technip Energies, which allows us to further leverage and develop our floating toolbox to customize locally adapted industrial solutions for future floating offshore wind projects.”

Growth in renewables is needed to succeed with the energy transition. A large part of this growth will come from floating wind as approximately 80 percent of the wind resources offshore are in deep waters that require a floating wind turbine solution. Even though costs have come down substantially, there is still a way to go for the floating technology to reach commerciality. From building the world first floating turbine, Hywind Demo, to the world first floating wind farm, Hywind Scotland, Equinor reduced the cost per megawatt by 70 percent. The strategic collaboration between Technip Energies and Equinor will contribute to industrializing floating offshore wind solutions.

About Technip Energies

Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO₂ management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.

Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) traded over-the-counter in the United States. For further information: www.technipenergies.com.

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