Keppel Acquires Stake In Offshore Wind Turbine Foundation Company

Posted by NAW Staff on January 03, 2012 No Comments
Categories : FYI

Offshore rig designer KV Ventus B.V., a wholly owned subsidiary of Keppel Corp. Ltd., says it has entered into a share purchase and subscription agreement and shareholders' agreement to acquire a 49.9% stake in Norwegian offshore wind turbine foundation designer OWEC Tower for approximately NOK 61 million.

OWEC Tower has developed a proprietary jacket foundation design known as OWEC Quattropod, which is designed to separate and optimize the piling and jacket installation process.

Keppel says this investment will enable the company to build on OWEC Tower's expertise to further develop its business in the design and construction of offshore wind turbine foundations.

OWEC Tower has had its jacket foundation design installed for offshore wind farms such as the Beatrice pilot test off the coast of Scotland, the German pilot project Alpha Ventus, the Ormonde wind farm in the U.K., and the Belgian Thornton Bank project.

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