Floating wind shake-up as SBM and Technip Energies join forces amid 'challenging economics'

Two of the key players in the floating wind platform technology market – SBM Offshore and Technip Energies – unveiled plans to pool their efforts under a new joint venture called EkWiL that will help manage the "challenging economics" of the fledgling sector.

The pair signed a memorandum of understanding to create the JV, which they said will be a floating wind "pure player" able to offer "a wide range of solutions to clients".