Fred Olsen Acquires Offshore Foundation Company

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A wholly owned subsidiary of First Olsen Ltd. has acquired 60% of Universal Foundation AS, formerly known as MBD Offshore Power AS, developer of the ‘bucket’ foundation for offshore wind farm development.

The remaining interests of Universal are held by the Danish utility company DONG Energy Power Holding AS, Novasion ApS and Aalborg University, with whom the concept foundations have been developed and tested.

Universal Foundation's design combines the benefits and aspects of a gravity base foundation, a monopile and a suction bucket into one product, according to the company.

The design has been developed for nearly a decade, and after successful prototype installations of the foundation for both meteorological masts and turbine foundations, the foundation is now entering full-scale commercial production and supply to the offshore wind market, according to the company.

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