The MoU encompasses the key terms of cooperation between the companies for the design, delivery and operation of floating transportation and installation vessels for wind farm foundations for deepwater locations and harsh weather conditions.
The companies are jointly developing a floating wind farm installation design through a technical study with the objective of subsequently delivering an innovative vessel to the market by 2014.
Under the terms of the MoU, if constructed, Teekay will own and operate the vessel while A2SEA will provide project management and operational expertise.
The joint cooperation is based on A2SEA’s knowledge of offshore wind farm installation and Teekay’s experience of operating large vessels controlled by dynamic positioning systems.
