SBM Offshore signs deal with Ocean Power on floating power generation

Dutch floater expert SBM Offshore has signed a memorandum of understanding (MoU) with Ocean-Power to collaborate on a floating power generation hub with CO2 capture and storage.

The purpose of the partnership is to assess the technical feasibility and commercial readiness to collaborate on the concept, exclusive to the Norwegian Continental Shelf and United Kingdom Continental Shelf.

The offshore power hub will apply Ocean-Power’s proprietary Blue Power Hub concept which generates electricity offshore using gas turbines in association with carbon capture and storage, resulting in significantly lower CO2 emissions.

The hub can be used to power offshore assets via submarine cables and electrify the continental shelf with minimal impact on the national grid, all while balancing wind power capacity in a bi-directional transmission structure.