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 November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

IMO Assembly Elects New 40-Member Council

The Assembly of the International Maritime Organization has elected the following States to be Members of its Council for the 2014-2015 biennium:    Category

Windrock Names Kelleher Global Business Development Manager

Edward P. Kelleher will be assuming the new role of Global Business Development Manager – Diesel, effective December 1st.   In this role, Mr. Kelleher will be

Canada to Aid Developing Nations Fight Climate Change

Canada will provide aid to developing countries to combat climate change, Prime Minister Justin Trudeau announced on Friday ahead of talks on global warming,


DP World, SCA Pact for Ain Sokhna Port Development

Suez Canal Authority (SCA) and the Red Sea Ports Authority signed an agreement with Dubai Ports World (DP World) and Sonker Bunkering Company for the development of Egypt’s Ain Sokhna seaport,

BIMCO Signs New LNG And Shipbuilding Supervision Contracts

The twice yearly meeting of BIMCO’s Documentary Committee took place in Hamburg on 19 November. In his first meeting as Chairperson of the Committee, Belgium’s

Extended Warranty from Yanmar for Sailboat Engines

Yanmar Marine International B.V. has introduced an extended 3 years’ period of YANMAR Limited Warranty for Sailboat Engine Models. This extended warranty of


Sandra Weakens to Tropical Storm off Mexico's Coast

Hurricane Sandra weakened to a tropical storm on Friday and was expected to continue losing strength as it approached Mexico's Pacific coast, the U.S. National Hurricane Center (NHC) said.

Extended Warranty from Yanmar for Sailboat Engines

Yanmar Marine International B.V. has introduced an extended 3 years’ period of YANMAR Limited Warranty for Sailboat Engine Models. This extended warranty of

Fugro's Havila Harmony to join MH370 Search

Fugro is providing an additional vessel, the Havila Harmony, to join the search for the missing flight MH370 in the southern Indian Ocean. From the 93-metre multi-role vessel,

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Port Authority Salvage Ship Electronics Ship Repair Sonar Winch
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: 0.1034 sec (10 req/sec)