Plenitude, a subsidiary of Eni’s Italian oil and gas division, has announced an investment in EnerOcean, a developer of the W2Power floating wind energy technology.
A long-term partnership focusing on W2Power technology deployment as a leading contender for floating wind power developments worldwide is part of the agreement.
The W2Powertechnology, which uses two wind turbines mounted on the frame of the same floater that is always facing the prevailing wind, achieves one of the highest power-to-weight ratios and the lowest levelized cost of energy of any floating wind power technology.
This solution incorporates patented features as well as key proprietary technology elements, and it has successfully completed prototype testing in open sea conditions in Spanish waters, making it the first multi-turbine solution in the world to reach this level of maturity, according to Eni.
As part of the EnerOcean development programme, Plenitude will contribute capital as well as expertise. Plenitude will initially hold a 25 percent equity stake in EnerOcean, which will continue to operate independently.
It is widely recognized that floating solutions are an effective means of bringing offshore wind to most countries around the world, including most of Southern Europe, where the coastline is characterized by deep waters.
According to Plenitude CEO Stefano Goberti, Eni’s energy transition and Plenitude’s long-term goal of 15 GW of renewable installed capacity by 2030 both depend on the company’s making significant investments in cutting-edge technological solutions.
This agreement demonstrates Plenitude’s commitment to putting its world-class skills and offshore engineering resources to work unlocking the potential of floating wind power around the world, which is critical to delivering the much-needed massive build-out of offshore wind power for decarbonization, supply security, and long-term sustainability. ‘ Our collaboration with EnerOcean and other technology providers will continue to help accelerate the commercialization of floating offshore wind, he added.
In depth Technology Validation of W2Power was conducted over a period of several months by Plenitude’s experts, and we were very impressed with their performance. “Throughout the process, Plenitude and its affiliates demonstrated a thorough understanding of all fundamental aspects of the technology, and their scrutiny of our work over more than a decade was meticulous but fair,” said Pedro Mayorga, CEO of EnerOcean. “EnerOcean is delighted to have access to Plenitude’s extensive expertise as well as Eni, the company’s shareholder.” I am confident that we will achieve our lofty goals with the help of Plenitude and Eni’s support.”