Sweden’s Hexicon has created a 50-50 joint venture – AvenHexicon SRL – with Avapa Energy to jointly develop floating wind power projects in waters offshore Italy.
In addition, Hexicon will license its patented technology to AvenHexicon for use in its projects and by third parties.
Italy is one of the main recipients of the EU Green Deal and is hence assessed to be a key market in Europe for floating wind power, Hexicon said.
In line with its strategy to be an early-stage developer in key markets and to work with local companies, Hexicon has been looking for a partner to join forces with in developing floating wind power projects in Italy.
Based in Bologna, Avapa Energy has many years of experience in developing solar and wind farms on land and has the know-how and local knowledge that match Hexicon’s profile in floating wind power, according to Hexicon.
Alberto Dalla Rosa , Partner at Avapa Energy, said: ”Floating wind power with its advanced low-impact technology will play a material role in the Italian energy transition process, and we are happy to collaborate with Hexicon to develop floating wind parks in Italian waters.”
As one of the main recipients of the EU Green Deal, Italy has initiated the regulatory changes needed to develop offshore wind power.
In parallel with the national preparations, AvenHexicon will identify suitable sites for floating wind farms in order to initiate the necessary permit processes as quickly as possible.
AvenHexicon will also adopt and promote the use of Hexicon’s patented technology for floating platforms with tilted towers by other players.
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”An important part of our business model is to enter new and promising markets as early as possible and to establish both our project development skills and technology together with local partners,” Marcus Thor , CEO of Hexicon, said.
”We have found a perfect partner in Avapa Energy, and with AvenHexicon we are looking forward to support Italy in its expansion of fossil-free electricity production.”