AvenHexicon is a 50:50 JV, which will have Hexicon license its patented technology for use in projects and for use by third parties.
Hexicon said it has been looking for a partner to join forces with in developing floating wind power projects in Italy.
Avapa Energy is based in Bologna and has many years of experience from developing solar and wind farms on land and has the know-how and local knowledge that match Hexicon’s profile in floating wind power, the duo said.
AvenHexicon will identify suitable sites for floating wind projects in order to initiate the necessary permit processes as quickly as possible.
The JV will also adopt and promote the use by other players of Hexicon’s patented technology for floating platforms with tilted towers.
Hexicon chief executive Marcus Thor said: “An important part of our business model is to enter new and promising markets as early as possible and to establish both our project development skills and technology together with local partners.
“We have found a perfect partner in Avapa Energy, and with AvenHexicon we are looking forward to support Italy in its expansion of fossil-free electricity production.”
Avapa Energy partner Alberto Dalla Rosa said: “Floating wind power with its advanced low-impact technology will play a material role in the Italian energy transition process, and we are happy to collaborate with Hexicon to develop floating wind parks in Italian waters.”