Saipem to build 500MW floating offshore wind farm in Saudi Arabia

Saipem has signed a memorandum of understanding with Abu Dhabi-based Plambeck Emirates for the development and construction of a floating offshore wind farm.

The 500 megawatt (MW) project phases will commence in the coming weeks via Plambeck Saudi, a Plambeck company located in Riyadh, the Italian oil & gas contractor said in a statement.

Under the MoU, Saipem will begin operations after finalization of the financial agreements at the end of the planning phase. 

Following which, the contract will be signed for Saipem to undertake the engineering, design, construction and installation of the entire project and related services.

"The development of the floating offshore wind farm project is part of the new 5 gigawatt (GW) Wind Market concept, which has been proposed to Saudi Arabia,” Norbert Plambeck, shareholder of Plambeck Emirates, said.

“Furthermore, the implementation of the project with Saipem, a solid international group, is already technically assured," he added.