Italian engineering firm Saipem has joined forces with Plambeck Emirates LLC for the development and construction of a 500 MW floating offshore wind farm in Saudi Arabia.
The two companies have signed a memorandum of understanding (MOU) to engineer, design and build the project, which would form a key part of Saudi Arabia’s Vision 2030 renewable energy programme.
Early-stage development of the proposed project will start in the “coming weeks”, with Riyadh-based Plambeck Saudi carrying out the planning phase.
This will be followed by completion of financial agreements and contract signing, after which Saipem will start on its portion of the project, the company said in a statement.
The proposed wind farm would be based on Saipem’s Hexafloat floating wind turbine foundation.
“Initiating the new market in Saudi Arabia is an important opportunity to be seized and we are ready with Plambeck for this new challenge,” said Francesco Balestrino, Renewables and Green Tech Product Manager of Saipem’s Xsight division.