The tie-up would see the pair look to convert two floating units into dedicated offshore wind installation vessels, amid a global dash for heavy lift capacity.
New York listed rig operator Transocean (NYSE:RIG) and wind installer Eneti (NYSE:NETI) announced the signing of a non-binding memorandum of understanding (MoU) which would see them form a joint venture to handle foundations for offshore wind projects.
The new unit would pull on what they described as “best-in-class experience” from both firms, combining Transocean’s expertise operating a global fleet of dynamically positioned drilling rigs and Eneti’s experience installing more than 500 wind turbine foundation components.
The move would also draw on the expertise of Seajacks International – the largest owner of purpose-built self-propelled wind turbine installation vessels (WTIVs) – which Eneti acquired from former owners Mitsui and Marubeni in 2021.
In the past the company has undertaken a series of major transport and installation contracts at wind farms including Akita & Noshiro (Japan), Meerwind (Germany), Veja Mate (Germany), and Moray East (Scotland).
The official formation of the JV is still subject to negotiations, though both firms said they expect a final agreement would see operations performed by personnel from both Eneti and Transocean.
It would also see them commit to converting up to two floating vessels into offshore foundation installation vessels.
Upgrades to these vessels would include a 5,200-tonne crane and would provide them with the capability to carry up to six 3,500t monopile foundations with 12m diameter. Other “environmentally responsible and efficiency-enhancing operating features” may also be added.
The new venture comes amid a boom in offshore projects and a looming crunch on available heavy lift capacity for foundations and WTIVs as more and larger sites are sanctioned.
This week Havfram ordered the second of a four-vessel option contract for the construction of new WTIVs, with delivery eyed for the middle of the decade.
Reports earlier this year from analytics firm Intelatus Global Partners, suggest between £3.3bn and £6.5bn will be needed to meet international demand for such craft in the coming years – equivalent to at least 10 foundation installation vessels (WFIVs), and/or six more wind turbine installation vessels (WTIVs).
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