Technip Energies buys into floating wind firm

Paris-listed Technip Energies has acquired a 16.3% stake in floating offshore wind firm, X1 Wind. The investment in the start-up is the largest single commitment in the latest funding round and sits alongside participation from the European Innovation Council Fund and some of X1 Wind’s previous shareholders. It will give Technip Energies two of the nine seats on XI Wind’s board.

The renewable energy company is developing floating offshore wind technology designed around a tension leg platform mooring, a weathervaning system, and a downwind turbine. The arrangement requires a lighter floater design with reduced steel and a mooring system that has less impact on the seabed, according to X1 Wind.

The setup is scalable for turbines of 15 MW or more, making it suitable for large-scale wind farms. Technip Energies will now assist X1 Wind in developing a commercial-scale demonstrator, as well as supporting commercial development of the technology.

Willy Gauttier, Technip Energies’ vice president for Floating Wind, noted that X1 Wind’s floater design will supplement the company’s current semi-submersible technology and help to prepare for the next generation of floating wind turbines.

“Thanks to our offshore project execution and experience in developing technical concepts all the way to commercialisation, we are confident that X1 Wind will be a great addition to Technip Energies’ portfolio of technology solutions in the near future,” he declared.