Keppel Expands Offering for Offshore Wind Farm Installations

Tuesday, January 03, 2012
Keppel said it will acquire a substantial stake in OWEC Tower, an industry leading designer of jacket foundation. KV Ventus B.V., a wholly-owned subsidiary of Keppel Corporation Ltd. (Keppel) has today entered into a share purchase and subscription agreement and shareholders' agreement to acquire a 49.9% stake in offshore wind turbine foundation designer OWEC Tower (AS) for about NOK 61 million. OWEC Tower, headquartered in Norway, is a leader in the design and engineering of offshore wind turbine foundations. The company has developed a proprietary jacket foundation design known as OWEC Quattropod, which is currently the only proven jacket design in the market. The OWEC Quattropod design separates and optimises the piling and jacket installation process, resulting in reduced installation costs and faster project delivery.
With the aim of getting a slice of the offshore wind foundation business, this investment will enable Keppel Offshore & Marine to tap on OWEC Tower's expertise to further develop its business in the design and construction of offshore wind turbine foundations as well as installation and support vessels thereby providing value-added solutions to its customers. Michael Chia, Director of Group Strategy and Development at Keppel said, "We are seeing offshore wind energy rapidly gaining traction around the world and a large number of offshore wind farms are under construction and planning. This will result in a huge increase in demand for foundation structures. With OWEC Tower's leading design in this segment, our partnership puts us in the ideal position to capture a share of this market.
"As offshore wind farms move into deeper waters with bigger capacity turbines, a large number of jacket foundations will be required. With our experience and expertise as a leading rig builder, we see good potential in supporting OWEC Tower to meet this demand in a cost-effective and reliable manner. Together with our proprietary designs for offshore wind turbine and foundation installers, we are confident of further enhancing our suite of solutions for the offshore wind industry."To-date, OWEC Tower is the only company with a track record of having its jacket foundation design installed for offshore wind farms. Projects include the Beatrice pilot test off the coast of Scotland, the German pilot project Alpha Ventus, Ormonde wind farm in the UK, and the Belgian Thornton Bank project.Europe is currently the leader in offshore wind energy. According to the European Wind Energy Association (EWEA), at the end of 2010, Europe had 1,136 offshore wind turbines installed and connected to the grid on 45 wind farms in nine countries. In total, these have a power capacity of 2.9 GW and can produce 11.5TWh of electricity in a normal year.
Offshore wind will become increasingly important as European countries move towards renewable energy. EWEA has set a target of 40 GW installed by 2020 and 150 GW by 2030. The huge number of offshore wind farms under construction and planning will result in a corresponding demand for foundation structures. Investments in offshore wind farms in Europe alone are projected at €209 billion from 2010-20.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

NASSCO Lays Keel for Jones Act Tanker Liberty

U.S. shipbuilder General Dynamics NASSCO hosted a keel laying ceremony on Thursday, May 26 for the Liberty, one of three new ECO Class Jones Act tankers under a

DSC Dredge Receives President’s E-Star Award

DSC Dredge, LLC, based in Reserve, La., has received the 2016 President’s “E-Star” Award for exports.   In a ceremony held on May 16, 2016, at the U.S. Department

TT Club Reports Robust Financial Results for 2015

TT Club has announced its financial results for the year ended December 31, 2015, and AM Best affirms its A- (Excellent) rating for the 10th consecutive year.   Knud Pontoppidan,

Contracts

Diana Charters Out Two Bulkers

Diana Shipping Inc. today announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Bunge S.A., Geneva, for one of its Panamax dry bulk vessels,

Haven Marine Signs Service Contract with Svitzer

Haven Marine Services informs it has signed a five year contract with Svitzer which will see the yard service the requirements of Svitzer’s vessels within the Bristol Channel and Irish Sea areas.

Portugal PM Warns Lisbon Dock Workers to End Strike

Portugal's prime minister warned Lisbon dock workers on Friday that his patience was running out after a strike that has lasted a month, paralysing the city's ports.

Offshore

Hercules Offshore Filing for Bankruptcy Again

Hercules Offshore Inc said it planned to file for prepackaged Chapter 11 bankruptcy, just six months after the rig contractor emerged from bankruptcy protection.

DONG Energy Listing to Value Group at up to $16 Bln

DONG Energy's has set a potential $16 billion price tag on its stock market debut, giving investors a chance to buy into the growth in offshore wind power, but

Østensjø Rederi Orders Another Wind Farm Vessel

Rolls-Royce has signed a contract with shipyard Astilleros Gondan in Spain to design and equip a second Service Operation Vessel for ship owner Østensjø Rederi.

 
 
Maritime Contracts Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1063 sec (9 req/sec)