Offshore marine services provider, PACC Offshore Services Holdings (“POSH”), announced that it will be partnering with mooring and marine service specialist First Marine Solutions (“FMS”) to explore growth opportunities for floating offshore wind in Europe.
The two companies signed a Memorandum of Understanding (“MoU”) to bring together their combined expertise to market. Both POSH and FMS will work together on identifying, developing, and delivering on relevant joint tender opportunities. POSH, with assistance from FMS, will be responsible for the installation of offshore floating wind mooring systems, and FMS will be responsible for designing and subsequently supplying the offshore floating wind mooring systems as the technical authority.
This MoU follows on from POSH’s earlier announcement that it will be focusing on the development of the fast-growing floating wind market.
Mr Ulva Chai, Chief Operating Officer, POSH, said, “POSH continues our transformation to become a future-ready, sustainable solutions provider for the global energy sector. We are pleased to be working with First Marine Solutions to identify opportunities in this fast-growing sector. As specialists in offshore marine solutions, POSH will leverage on our relevant expertise and track record to offer integrated solutions for floating wind turbine projects. These services include planning & engineering, project logistics & management, pre-lay mooring, mobilisation base management, towage and hook up, cable installation, operations & maintenance, and decommissioning.”
Mr Steven Brown, Managing Director, FMS, said, “This agreement with POSH is the next step on our renewables strategy which began two years with the establishment of a dedicated offshore renewables business unit. FMS has designed, supplied and installed mooring systems worldwide for many years for a number of different applications and look forward to bringing our technical expertise, offshore experience and technology to the ever growing floating offshore wind market.”
Offshore wind has the biggest growth potential of any renewable energy technology globally. Currently, offshore wind makes up just 2% of what the world needs to get to net zero by 2050 but is rapidly growing - forecasted to grow by 235 GW of new installed capacity over the next decade1, seven times more than its current size.