The Shaw Group News

Danish wind energy giant Orsted completed its previously announced takeover of Deepwater Wind from D.E. Shaw group in a deal valued at $510 million.The company closed the transaction of acquiring 100% of equity stake held by D.E. Shaw group in Deepwater Wind, which was announced in October this year, after securing approval from the US competition authorities.The new combined organization—Ørsted US Offshore Wind—will be able to deliver clean energy to every coastal state in the densely-populated east coast corridor between Massachusetts and Virginia. Seven states in that region have already committed to build more than 10GW of offshore wind capacity by 2030.The new company launches as the clear leader in the US market…

Technip acquires Stone & Webster process technologies & associated oil & gas engineering capabilities from the Shaw Group. Technip paid cash consideration of around €225 million from existing cash resources, which will be subject to customary price adjustments. •    Add skilled resources, notably in research in the US, and engineering in the US, the UK and India. To make the most of these strengths, a new business unit, Technip Stone & Webster Process Technology, will be developed within the Onshore/Offshore segment. “I am delighted to welcome a high-skilled team into the Technip family.

The Ports Association of Louisiana has commissioned The Shaw Group to create a strategic plan for the collective future of Louisiana’s 30 ports. The $700,000, 10-month study, aims to position Louisiana’s extensive port system to garner a larger share of future cargo coming into the United States. According to the American Association of Port Authorities, freight moving through U.S. ports is expected to grow 50 percent by 2020 and containerized cargo could double during that period. Louisiana has three of the 10 highest-tonnage ports in the nation and stands to gain a significant portion of new business by investing now in new transportation infrastructure…