Saipem, Havfram Setting Up Cooperation In Offshore Wind Sector

Saipem, Havfram Setting Up Cooperation In Offshore Wind Sector
Saipem, Havfram Holding, and HVAS Invest Kappa have signed a non-binding agreement to evaluate a potential collaboration in the development and construction of offshore windfarms.

Saipem, Havfram Holding, and HitecVision-controlled holding company HVAS Invest Kappa have signed a non-binding agreement to evaluate a potential collaboration in the development and construction of offshore windfarms.

The parties share the common objective to create a wider value proposition by integrating a range of construction and operational services, based on the parties’ respective competencies and expertise.

In this context, the cooperation between the HitecVision-controlled Havfram and Saipem would build upon Havfram’s agile business model and consolidated expertise in the installation of offshore facilities on one side, and Saipem’s offshore wind EPCI capabilities, competencies, and assets on the other side.

The initiative is consistent with Saipem’s 2022-25 Strategic Plan in that it aims at strengthening its value proposition for the offshore wind market by identifying new and more profitable ways of execution, organizational and management models, also through the integration of the latest generation installation assets such as jack-ups.

The agreement also corresponds to Havfram’s objective to accelerate growth in its EPCI and service-oriented offering toward offshore wind.

The parties will set up a joint team to study and develop the technical, organizational, financial, and valuation aspects of the possible collaboration, targeting, if the conditions will be met, to reach a detailed definition of the business model and a final agreement by end of the third quarter of 2022.

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