Saipem focuses on wind power and flies to the stock market. At Piazza Affari, the stock gains 4,24% at 2,287 euros, achieving the best performance of the Ftse Mib. Already yesterday, June 3, the shares had closed the session with a rise of 1,39% in the wake of rumors that see the company at the forefront of obtaining a new contract from Shell in Nigeria.
Today, however, the deal concerns France. The action is in fact driven by the agreement signed with Naval Group for the acquisition of the assets of Naval Energies thanks to which the Italian oil group will be able to strengthen its position in the offshore renewable energy market and in particular in thefloating wind power.
The activities concern Naval Energies engineering know-how related to floating units, intellectual property rights and approximately 30 resources with modeling and simulation skills.
The operation, Saipem explains in a note, has a marginal impact on the financial position of the group, which has been present in France since 2002 through the subsidiaries Saipem SA and Sofresid Engineering SA and is already active in the renewable energy business through the New Energies business unit of the E&C Offshore Division.
We recall that last February Naval Group had made it known that it wanted to interrupt its developments in the field of offshore renewable energies, initiating a process to cease the activities of Naval Energies, including the search for a buyer for all or part of the company's assets. Completion of the operation will be subject to administrative permissions.
With this acquisition, “we expand our technology portfolio and position Saipem in the tender for the assignment of the Groix Belle-Ile floating offshore wind project, in France, for which we will focus on our recognized ability to execute turnkey projects, at the service of Eolfi", said Mauro Piaser, head of Saipem's Offshore New Energies Business Unit, underlining that “the know-how we acquire consolidates our position in the offshore renewable energy market, in particular in floating wind power”.
Jean-Yves Battesti, executive chairman of Naval Energies, said he was convinced that "this new technological pole, whose teams will be based in Nantes and Brest in particular, will be able to promote this promising industry in Brittany, in the Pays de la Loire, but also in the rest of France and in the world”.
“The acquisition – the Equita analysts comment – is consistent with Saipem's interest in technologies that can support future business developments and to invest in projects/technologies related to the energy transition”. At present, the "renewables & green" business represents approximately 5% of the group's order portfolio.
