Italy's Saipem has reached an agreement with Norway's Equinor to develop technology to build floating solar power farms close to the coast, the energy contractor said.
The agreement is between Saipem's high-value services unit Moss Maritime and the Norwegian energy firm.
"The agreement with Equinor goes in the direction taken by Saipem and Moss Maritime to develop new technologies related to clean energy," said Moss Maritime Chief Executive Ida Husem.
Saipem, a market leader in subsea construction for the oil and gas industry, is looking to develop new lines of business to boost order books, including floating renewable energy farms.
(Reuters reporting by Stephen Jewkes, editing by Giulio Piovaccari)