Saipem and Wello OY, a Finnish company operating in the sector of ocean-wave energy conversion, have undertaken to work together for the successful execution of their first joint project. This will be in the framework of the Memorandum of Understanding signed last September regarding the deployment of WEC Penguin technology for the production of energy from marine waves.


The project involves the deployment of WEC Penguin technology at the Biscay Marine Energy Platform (BiMEP) test area, an open sea marked zone dedicated to supporting research and technical testing of prototype floating Marine Renewable Energy Devices (MREDs). BiMEP is situated in the North of Spain, offshore the Basque coast of Bilbao.

Saipem will provide Wello OY with the transportation and installation of the WEC Penguin “WEC2” from a yard in the Orkady Islands, where it is currently located, to the BiMEP test area. Works encompass towing, mooring installation, deployment of the WEC2, operation & maintenance and other marine works.

This first joint project demonstrates the competitive advantages of the cooperation agreement between Saipem and Wello OY and establishes a model that can be applied to several business opportunities in the near future.

Francesco Balestrino, Renewables and Green Technologies Business Development Manager of Saipem’s XSIGHT Division, commented: “Following the cooperation agreement signed last September, this project represents Saipem’s first opportunity to perform a project in the marine energy field that is consistent with our diversification strategy. It also proves Saipem’s commitment to provide its clients with new sustainable solutions. Specifically, we aim to apply WEC Penguin innovative technology to the traditional infrastructures of the Oil & Gas market, such as energy efficiency for offshore platforms as well as integration with other renewable sources”.