DP Energy and Floating Power Plant (FPP) have entered a joint venture, looking to set up pilot demonstration projects featuring FPP's hybrid wind-wave technology at two sites, one in Scotland and one in Wales.
The two companies will evaluate and develop the two sites, subject to the outcomes of the evaluation. Should everything go as planned, the projects could be up and running by 2020.
The new project companies are Dyfed and Katanes Floating Energy Ltd, developing sites in south Wales and north Scotland respectively.
Simon De Pietro, CEO of DP Energy said: "For sites with a significant wave regime DP Energy believes Floating Power Plant provides one of the most promising hybrid technologies in the sector for extracting both wind and wave energy and we have chosen to partner with them on two pilot demonstration projects in the UK leading to potential commercial project developments, each with a capacity of around 200MW."
De Pietro said that lower costs of installation and operation and maintenance will make floating offshore wind a significant part of the renewable energy market. "DP Energy will pursue opportunities in this area across all its areas of operation," he added.
Ander Køhler, CEO of Floating Power Plant, said: "For us to now be able to announce that we have joined forces with DP Energy in development of these two sites with our wind and wave technology is an important milestone. In 2015 we also established Floating Power Plant Ltd, with offices in Scotland, to lead our contribution to these developments as well as building links to the local supply chain."