Technip Energies buys stake in offshore wind unit

Technip Energies has acquired a 16.3% stake in Spanish offshore wind technology producer X1 Wind, the international engineering and technology company announced today.

The Barcelona-based company has developed a disruptive offshore wind turbine floater based on a tension leg platform mooring with a significantly lowered steel requirement that minimises damage to the seabed.

Technip Energies will hold two of the nine seats on X1 Wind’s board of directors and will provide its engineering, offshore project execution and commercialization abilities.

Cost of the transaction was not disclosed.