TechnipFMC and Prysmian Announce Floating Offshore Wind Collaboration Agreement

TechnipFMC and Prysmian (MILAN: PRY) have announced a collaboration agreement aimed at accelerating the global development of floating offshore wind to meet the rising demand for renewable electricity.

This partnership combines the expertise and technologies of both companies, enabling them to pioneer a comprehensive water column solution, from the seabed to the ocean surface. TechnipFMC will bring its system design and integration skills in dynamic offshore applications, while Prysmian will contribute its global leadership in the production and installation of submarine power cable systems.

The companies plan to deliver an optimized solution through a fully integrated Engineering, Procurement, Construction, and Installation (iEPCI™) commercial model. By integrating the execution of the solution—covering mooring and anchoring as well as dynamic inter-array and export cable systems—the partnership aims to improve project economics and reduce risks associated with execution.

Massimo Battaini, CEO at Prysmian, commented: “This agreement is a great example of a solid cooperation between two industry leaders. Prysmian’s leadership is defined by our unwavering commitment to innovation. Our tailor-made solutions for customers reinforce our capabilities to deliver groundbreaking technology worldwide, helping to drive the global energy transition.”

Doug Pferdehirt, Chair and CEO at TechnipFMC, commented: “We are excited to partner with Prysmian, the worldwide leader in cabling solutions for the energy transition and digital transformation. The collaboration strengthens both companies’ position in this emerging market by providing an integrated solution that accelerates time to first power and reduces cost, while improving overall system reliability. This innovative subsea offering will create significant value for our customers and further differentiate TechnipFMC as the leading architect for offshore energy.”