Italian multinational Saipem has signed an agreement to build a 450 MW offshore wind farm in the Adriatic Sea in northern Italy.
Saipem has agreed with renewable energy companies AGNES and QINT’X to install 56 wind turbines at two sites off the coast of Italian port city Ravenna. The project’s contract value could be worth up to 600 million euros ($710 million) for Saipem. In 2019, Saipem signed an agreement with Abu Dhabi-based Plambeck Emirates to build a 500 MW floating wind farm off the cost of Saudi Arabia.