Abu Dhabi-based Plambeck Emirates has signed a Memorandum of Understanding as well as an exclusive agreement with Saipem for the development and realization of a 500MW floating wind farm offshore Saudi Arabia.
The next steps in the development of the project will start in the following weeks via Plambeck Emirates entity Plambeck Saudi, located in Riyadh, Plambeck Emirates said.
Norbert Plambeck, a shareholder in Plambeck said: “The development of the 500 MW floating offshore wind project is part of the 5 GW New Wind Market concept, which we have proposed to the Kingdom of Saudi Arabia. We are very proud to have with Saipem an internationally experienced global solution provider on board, with whom we can jointly take the next project development steps. In addition, the implementation of the project with Saipem as a strong international group is already technically secured.”
The commencement of realization activities by Saipem as an EPCI contractor for the balance of plant is subject to the finalization of financial agreements at the end of the development phase, after which the EPCI contract will be signed.