Eni takes stake in Spanish floating wind technology developer

Eni’s integrated renewables business Plenitude has struck a deal to invest in a Spanish company to further develop and commercialise a floating wind technology a prototype of which has successfully come through sea trials.

The move is structured as a long-term partnership and aims to help Eni achieve its goal of having a renewable generating capacity of 15 gigawatts by 2030.

Malaga-based EnerOcean’s concept is called W2Power technology and comprises two wind turbines mounted on the frame of the same floater, which always face the prevailing wind.

According to Plenitude — which is due to be listed this year — this design “yields one of the highest power-to-weight ratios and the lowest levelised cost of energy of any floating wind power technology.”

This concept integrates patented features and key proprietary technology elements and has completed testing at open sea of a prototype in Spanish waters.

Plenitude said this milestone makes the concept “the first multi-turbine solution in the world to reach this level of maturity”.

The ultimate aim of the partnership is to make W2P a viable and leading contender for deployment on floating wind power developments.

Plenitude will contribute capital and expertise to the EnerOcean development programme and will initially retain a 25% equity share in EnerOcean which will continue to operate independently.

Floating solutions are widely seen as an effective way to spread the success of offshore wind to most countries across the world, said Plenitude, pointing out this includes most of Southern Europe where coastlines are characterised by deep waters with limited continental shelves.

Plenitude chief executive Stefano Goberti said: “Investing in innovative technological solutions is crucial… to support Eni’s energy transition process and to reach the long-term targets of 15 GW renewable installed capacity by 2030.

“This agreement testifies Plenitude’s willingness to put its… skills and offshore engineering resources into unlocking the potential of floating wind power worldwide, which is key to delivering the much needed massive build-out of offshore wind for decarbonisation, supply security and sustainability.”

Goberti said Plenitude “will continue to cooperate with EnerOcean and other technology providers to help accelerate the commercialisation of floating offshore wind”.

EnerOcean chief executive Pedro Mayorga added that: “We were impressed by the excellence of Plenitude’s experts who conducted the in-depth technology validation of W2Power over several months.”

He added that Plenitude and its affiliates “showed a deep awareness of all core aspects of the technology and its scrutiny of our work over more than 10 years was meticulous, but fair”.

“Through the support of Plenitude and Eni, I am confident that we will succeed in carrying out our ambitious targets,” he said.

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