Joint Venture for floating wind power in Italy
Hexicon has created a 50-50 Joint Venture – AvenHexicon – with Avapa Energy with the purpose of developing floating wind power projects in Italian waters. 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.
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 from developing solar and wind parks on land and has the know-how and local knowledge that match Hexicon’s profile in floating wind power.
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 power parks in order to initiate the necessary permit processes as quickly as possible. AvenHexicon will also adopt and promote the use by other players of Hexicon’s patented TwinWind technology for floating platforms with tilted towers. TwinWind is a floating foundation which hosts two wind turbines and weathervanes around a single mooring point. The design specifically allows the foundations, rather than the individual turbine nacelles, to align with the wind. This innovative design allows for the deployment of more turbines per sea area, increasing the energy yield per acreage and reducing the environmental impact. TwinWind also reduces the total costs of cabling, steel, installations and maintenance.
Marcus Thor, CEO of Hexicon, says, “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. 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.” Alberto Dalla Rosa, Partner at Avapa Energy, adds, “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.”