TechnipFMC plcFTI has announced a collaboration with the Italian cabling giant Prysmian to meet the growing demand for renewable energy by accelerating offshore floating wind projects. This partnership merges the individual expertise of both companies where FTI will provide the services of offshore system design and Prysmian will deliver its expertise in power cabling systems, creating a powerful synergy and providing an integrated solution.
FTI and Prysmian’s Comprehensive and Integrated Solution
As a result of the collaboration agreement, the companies aim to offer optimized solutions through an integrated Engineering, Procurement, Construction and Installation model. This all-inclusive service covers everything from mooring and anchoring to dynamic inter-array and export cable systems, which will help improve project economies and streamline execution. The integrated and comprehensive partnership will enhance reliability, reduce cost and accelerate time to first power.
Driving the Energy Transition
Both companies emphasized their commitment to innovation and creating value for their customers. With this project, the companies will create a mark for themselves in the energy transition race by making significant contributions to the global demand for renewable energy, aligning perfectly with the industry’s green energy shift.
FTI’s Zacks Rank and Key Picks
TechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. Currently, FTI has a Zacks Rank #3 (Hold).
Investors interested in the energy sector might look at some better-ranked stocks like Archrock, Inc. AROC, Talos Energy Inc. TALO and The Williams Companies, Inc. WMB.While Archrock currently sports a Zacks Rank #1 (Strong Buy), Talos Energy and The Williams Companies each carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Archrock is a provider of natural gas contract compression services as well as a supplier of aftermarket services of compression equipment. The Zacks Consensus Estimate for AROC’s 2024 earnings indicates 59.42% year-over-year growth.
Talos Energy engages in exploration, development and production of oil and natural gas properties. TALO’s expected EPS (earnings per share) growth rate for the next quarter is 600%, which compares favorably with the industry's loss of 39.58%.
The Williams Companies is a premier energy infrastructure provider in North America, providing services like finding, producing, gathering, processing and transportation of natural gas and natural gas liquids. WMB’s expected EPS growth rate for the next year is 20.57%, which compares favorably with the industry's growth rate of 10.40%.
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