Subsea 7 swoops on stake in Spanish floating wind technology developer

Engineering giant takes interest in NAUTILUS Floating Solutions, however the Bilbao-based company will retain autonomy from its new majority shareholder.

Oslo-listed service provider Subsea 7 has struck a deal to acquire a majority stake in Spanish floating wind technology developer NAUTILUS Floating Solutions.

Subsea 7 confirmed it would be acquiring a 59.12% stake in Nautilus and assuming four of the seven positions on the Nautilus board.

Nautilus has developed a concept for a floating wind foundation based on a semi-submersible steel structure that supports a centrally-placed wind turbine and is moored by a conventional catenary mooring system of four legs.

Nautilus claims its four column design with a ring pontoon is a well-known structure concept in the oil and gas industry and can maximise energy production of large wind turbines while limiting expensive offshore integration and maintenance procedures.

Subsea 7 said it would provide Nautilus with technical expertise, along with engineering and project management capabilities to support the advancement of the design, with plans for the concept to be included in tenders for demonstrator or pilot projects as early as this year.

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