Japan-based Marubeni Corp. and Innovation Network Corporation of Japan have entered into an agreement with Riverstone Holdings LLC, a U.S.-based investment fund, to fully acquire Riverstone's wholly owned subsidiary company, Seajacks International Ltd., a U.K.-based offshore wind power service provider.
Marubeni and INCJ are investing on a 50/50 share basis. Seajacks is a company involved in the offshore turbine and platform service industry and provides services with its turbine installation vessels to offshore wind farms, predominantly in the North Sea.
Since last November, Marubeni has taken an equity stake in the 172 MW Gunfleet Sand offshore wind farm and, with the addition of Seajacks, intends to extend its presence in the offshore wind power market. Marubeni is also viewing other promising areas for offshore wind power, including North America, Japan and Asia.