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

People & Company News

Aegean Marine Profit Beats Estimates

Greece-based Aegean Marine Petroleum Network Inc. (ANW) reported first-quarter earnings of $12.2 million or $0.25 per share compared with $5.1 million or $0.11 per share last year.

Shreyas Shipping Turns Around

Shreyas Shipping and Logistics swung to a net profit of Rs. 61.75 crore (about $9.6 million) in the fiscal year ended March 31, a big turnaround from its loss of Rs.

New EU Shipping CO2 Monitoring System

According to a new EU regulation, ship operators will be required to monitor, report and verify (MRV) CO2 emissions.     José Inácio Faria, Member, Group of

Contracts

Bahri Orders VLCC Newbuilds

Bahri ordered five newbuild very large crude carriers from Hyundai Samho Heavy Industries   The National Shipping Company of Saudi Arabia (Bahri) today signed

Scandlines Orders Ferry Battery System

Corvus Energy announces the signing of marine Energy Storage System (ESS) contract with Scandlines Denmark ApS; world’s largest battery hybrid electric fleet orders additional 2.

Mercury Diesel Engines for 16 New USCG Boats

Mercury Marine has entered an agreement with Metal Shark Aluminum Boats to power 16 U.S. Coast Guard (USCG) boats with Mercury diesel engines.   “Mercury Marine’s 2.

Offshore

IMRF, McMurdo Partner on SAR Initiatives

The IMRF, the charity supporting maritime SAR service globally, and McMurdo, a company in search and rescue and maritime domain awareness solutions, announced a

First Damen Twin Axe for Offshore O&G

To develop its large fleet, Groen Offshore, Guard & Support has selected the first Damen Twin Axe Fast Crew Supplier 2610 to be customised with Offshore Oil & Gas standby capabilities.

Sea Shepherd Global Launches Operation Siracusa

Following on from the incredibly successful 2014 campaign, Sea Shepherd Global launches Operation Siracusa 2015. Led by Sea Shepherd Italia, the campaign aims

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction
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: 0.1843 sec (5 req/sec)