What Saipem and HitecVision will do on offshore wind
Saipem is evaluating a collaboration on offshore wind with Havfram and Hvas, two companies belonging to the private equity group HitecVision. All the details and previous (not good) of Saipem
Saipem, the energy infrastructure company controlled by Eni and Cassa Depositi e Prestiti, has entered into a non-binding agreement with the Norwegian energy company Havfram and with the holding company HVAS Invest Kappa, both owned by the private equity company HitecVision. for a possible collaboration in the construction of offshore wind farms.
WHAT SAIPEM SAYS
In a press release , Saipem describes the agreement as being consistent with the objectives set out in its 2022-2025 strategic plan, which actually spoke of a greater focus on offshore activities. The agreement, the company declares, is "aimed at strengthening Saipem's value proposition for the wind market, identifying new and more profitable executive, organizational and management methods through the integration of latest generation vessels such as Jackups. ".
THE PREVIOUS (NEGATIVE) BY NEART NA GAOITHE
The Neart na Gaoithe project on offshore wind, in the sea east of Scotland, of which the French EDF is co-owner, nevertheless had a particularly significant negative impact – over 500 million euros – on Saipem's balance sheet in 2021, which closed with higher losses to one third of the share capital.
The Neart na Gaoithe contract provides for the engineering, procurement, construction and installation of 54 foundations ( jackets ) for Saipem for an equivalent number of wind turbines (8 megawatts each) and two foundations for the electrical substations . The jackets will be positioned at a depth of 40-60 meters. The Saipem 7000 lifting vessel will be used.
WHAT THE AGREEMENT WITH HAVFRAM INCLUDES
Havfram – Saipem says – wants to strengthen its capacity to offer engineering, procurement, construction and installation (EPCI, in jargon) services in relation to offshore wind.
The agreement provides for "the establishment of a joint team that will investigate the technical, organizational, financial and evaluation aspects of the possible cooperation to arrive, if the conditions exist, at the detailed definition of the business model and the related agreement by the end of the third quarter of the current year ".
THE OPINIONS OF EQUITA AND BANCA AKROS
According to analysts from investment bank Equita, an agreement with Havfram would strengthen Saipem's positioning in the wind industry. HitecVision is already present in the sector with a joint venture with Eni, Vårgrønn (the two companies are also merged into Vår Energi , a Norwegian oil company).
According to Banca Akros forecasts, the offshore wind sector will experience "significant growth in the coming years": the energy transition implies a sharp increase in installations of renewable energy plants. The agreement with Havfram, therefore, will "strengthen Saipem's competitive position".
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/energia/saipem-eolico-offshore-havfram/ on Tue, 31 May 2022 12:24:52 +0000.