EU partnership looking into floating power generation hub with CO2 capture and storage

Dutch provider of offshore floating facilities SBM Offshore and Norwegian energy solutions development company Ocean-Power have signed a partnership agreement to collaborate on a floating power generation hub with CO2 capture and storage.

Source: Ocean-Power

With the signature of a memorandum of understanding (MoU), the partners aim to assess the technical feasibility and commercial readiness to collaborate on the offshore power generation concept, exclusive to the Norwegian Continental Shelf (NCS) and UK Continental Shelf (UKCS).

The hub is imagined to be used to power offshore assets via submarine cables and electrify the continental shelf with minimal impact on the national grid while balancing wind power capacity in a bi-directional transmission structure.

It is set to apply Ocean-Power’s Blue Power Hub concept which generates electricity offshore using gas turbines in association with carbon capture and storage.

“The signing of this Partnership Agreement marks another step forward to support global decarbonization efforts in our industry. This opportunity capitalizes on both parties’ strengths, and we are pleased to partner up with Ocean-Power, a new player whose development complements our leading expertise in floating energy solutions,” said Olivier Icyk, Chief Business Officer at SBM Offshore.

SBM Offshore noted that the combination of its offshore experience with Ocean-Power’s technical concept development opens the door to potential joint business development initiatives in the region.

“We are very pleased to establish a new partnership with SBM Offshore, a leading offshore technology provider. Combining the expertise of both companies will be an important step towards electrifying the continental shelf without stressing the national grids. With this agreement, we will accelerate our path towards the 2030 CO2 reduction targets,” said Erling Ronglan, Ocean-Power CEO.