KV Ventus, a wholly-owned subsidiary of Keppel Corp. (headquartered in Singapore), has agreed acquire a 49.9-percent stake in offshore wind turbine foundation designer OWEC Tower for approximately $10.23 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, said to
"separate and optimize the piling and jacket installation process,
resulting in reduced installation costs and faster project delivery."
The investment will enable Keppel Offshore & Marine to
tap into 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.
Michael Chia, director of group strategy and development at
Keppel says, "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, he adds, 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."
Keppel Buys Turbine Foundation Firm
January 17, 2012