Renewable energy company Magnora ASA has entered into an agreement with an undisclosed global offshore energy technology and service company to establish a joint floating wind company called Magnora Floating Wind.
Magnora’s strategic partner has vast experience over many decades in all basins, water depths and weather conditions. It has broad experience from unique technology, local procurement and content, mass fabrication, project management, construction and installation processes.
In addition, it is amongst the most experienced companies within hydrogen, E&P and floating wind market.
“Our joint capabilities will enable Magnora Floating Wind to become a leading player within the floating wind market. In addition, we believe the collaboration will be instrumental in bringing down the capital expenditure, increasing the revenue potential, and lowering the operating cost for floating wind going forward,” says Executive Chairman Torstein Sanness.
Magnora Floating Wind has already commenced its operations and started work on the application for the ScotWind round in Scotland, UK.
In addition, the company will participate in the first offshore wind application round in Norway, which will open in 2021. Magnora Floating Wind will also consider entering new markets in the coming months.