JJ Ugland’s floating wind arm unveils cheaper foundation concept

Norway’s Ocean Ventus has unveiled a new concept that it says will deliver cost-competitive power from floating wind.

The company, majority owned by JJ Ugland’s fabricator Nymo, is marketing a floater that is cheaper from start to finish, including production, transportation, assembly and maintenance.

Ocean Ventus said its design, which has received approval in principle from class society DNV, saves up to 40% on steel costs and CO2 emissions. The floater can be mass manufactured using similar methods employed for monopile production, while modular construction allows for simplified transport on low-cost vessels, Ocean Ventus said.

Assembly is said to use two purpose-built barges that can complete 50 floating units per location annually, minimising use of quay space. The company is also developing a service vessel to enable turbine maintenance offshore and eliminate the need to tow to shore.

Ocean Ventus acquired the floater technology in 2022 from Cefront Technology, an experienced engineering company with proven track record from the oil & gas industry. Plans are in the works to establish dedicated large-scale production facilities, and the company is exploring the potential for a first factory in Norway to produce up to 50 structures annually and ramp up in 2028 for delivery to license rounds in key markets. Clarksons Securities has been engaged to advise on financing and seek new strategic investors.

“Foundations are a key challenge to making floating wind cost competitive, and we believe that Ocean Ventus is uniquely positioned to address this challenge,” said Halvor Ribe, chair of Ocean Ventus. “Our simple design, modular components, and industrialized process allow for serial production and significant cost savings. We are excited to bring this technology to market and support the growth of offshore wind in Norway and worldwide.”

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