Magnora partners with energy major to establish floating wind company

Magnora said it will disclose the identity of its partner shortly. It said the company in question "has vast experience over many decades in many parts of the world, in all water depths and weather conditions" and has "broad experience in unique technology, local procurement and content, mass fabrication, project management, construction and installation processes." In addition, said Magnora, the company is "among the most experienced in hydrogen, E&P and the floating wind market."

Magnora executive chairman Torstein Sanness said, “Our joint capabilities will enable Magnora Floating Wind to become a leading player in the floating wind market. In addition, we believe the collaboration will be instrumental in increasing revenue potential and reducing operating costs for floating wind.”

Magnora Floating Wind has started work on an application for the ScotWind Leasing round in the UK. In addition, the company will participate in the first offshore wind application round in Norway, which will open later in 2021. Magnora Floating Wind will also consider entering new markets.

Mr Sanness said, “Magnora strongly believes in the electrification of the global economy. Norway has played a leading role in offshore technology since the late 1960s and with our partner we have decades of combined knowledge regarding floating energy projects in new markets. We are already co-operating on several R&D initiatives to bring down lifecycle costs for floating wind.”