Joint Venture to Build Wind Farm Support Vessels

Wednesday, June 16, 2010

Offshore wind farm support vessel specialists OWPMS has partnered with The Brook Henderson Group to provide a bespoke package for offshore wind farm operators, focusing on vessel supply during construction and operation & maintenance phases throughout Europe, Asia and North America.

Brook Henderson is committing it substantial financial resources, equity of over $44.4m, to building a fleet of up to 60 Vessels over the coming 24 months.

Eddie Ward, Co-Founder of OWPMS, said "Due to recent events within the banking sector it's made raising funds to build new vessels very difficult and was preventing us from expanding to allow us to tender for new work. We are therefore very pleased to be welcoming the Brook Henderson Group onboard who have shown both faith in us as a successful operating company and who can see the benefits of investing in this sector of the renewable energy market. This partnership means we can now pick up and proceed with new and existing tender opportunities as a preferred supplier to the utilities and develop new markets outside of Europe. We can now fund an ambitious build program for our clients and offer them the reassurances of contracting with ourselves and the Brook Henderson Group."

Newly appointed Commercial Director Rob Stewart, formerly of South Boats Special Projects, laid out the strategy of the Joint Venture; "We are looking at this industry from the future rather than organically growing from the past. The design of vessels, access systems, fleet structures and training need to be rationalized as part of an integrated approach focusing on safe, cost effective reliable access to the turbines. Above all it is about partnering with the client and fitting our service around their strategy."

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