Saipem and Siemens Energy have signed a Memorandum of Understanding (MoU) for the joint development of a concept design for a 500 MW high-voltage alternating current (HVAC) floating electrical substation for use in offshore wind farms.
Floating offshore substations, installed in deep water, offer several advantages such as a lighter substructure, an easier and asset-light installation in challenging conditions, as well as lower decommissioning costs, the companies said.
