TechnipFMC Targets Floating Wind with Magnora Tie-Up

TechnipFMC has entered into an agreement with Magnora ASA to jointly pursue floating offshore wind project development opportunities under the name Magnora Offshore Wind.

In Januray, Magnora revealed it had entered into a partnership to establish the joint venture, but at the time did not disclose the name of the partner.

Magnora Offshore Wind has already commenced operations and started work on an application for the upcoming ScotWind leasing round for offshore wind.

In addition, the joint venture will participate in the first offshore wind application round in Norway, which opens this year, and will consider entering new markets in the coming months.

“Coupled with TechnipFMC’s project management competence and extensive service and technology portfolio, we believe we can provide a market-leading floating offshore wind offering. TechnipFMC’s ‘Deep Purple’ initiative, which utilizes offshore wind to produce hydrogen for offshore assets, is another exciting avenue we will be jointly looking to explore,” said Torstein Sanness, Executive Chairman of Magnora.

Photo: Hywind Scotland, world's first floating offshore wind farm. Source: Equinor