German turbine manufacturer Siemens is to become a 49% stakeholder in the Danish offshore wind-turbine installation specialist, A2SEA, and is ploughing £93million (115million euro) into the deal via a new shares purchase.
Danish energy company DONG Energy will continue to be the main shareholder of the company, which it acquired virtually a year ago in a deal worth more than $130million and which was designed to ensure that the power utility had control of construction capacity.
Siemens’ goal is to “advance the industrialisation of offshore wind power”, and A2SEA says it will now look into the possibility of expanding its installation capacity.
The firm currently employs about 200 people and operates with a fleet of five vessels, plus one in build. They comprise Sea Power, Energy, Jack, Worker and, when completed, Sea Installer.
Siemens is acknowledged as a global leader in the rapidly growing offshore wind sector, and it has bold ambitions.
“With our investment in A2SEA, we are showing our clear commitment to strengthening the future of the offshore wind industry,” said Wolfgang Dehen, CEO of the energy division of Siemens.
“It is our aim to foster the industrialisation of offshore wind power. Together with Siemens, A2SEA can build optimised vessels for the installation of offshore wind turbines.
“Optimisation of ships as well as processes will result in higher efficiency, shorter installation times and enhanced customer value.”
Niels Bergh-Hansen, a VP at DONG Energy and chairman of A2SEA, said: “I am very delighted that Siemens is to become an equity partner in A2SEA. Siemens’ participation in A2SEA will strengthen the company and the realisation of the strategy to offer superior offshore installation services to the company’s customers.”
The investment agreement is subject to approval from anti-trust authorities and closing of the agreement is expected in Q4 this year.
The potential for offshore wind in Europe is estimated at about 100Gigawatts, which equal two-thirds of the power plant capacity currently installed in Germany.
At present, only about 2% of that potential is being utilised.
Offshore wind is expected to play an important role in achieving Europe’s CO reduction goals.
Today, the UK is by far the most important offshore wind market, but offshore projects in Germany are gaining momentum.
Looking beyond Europe, Dehen added: “Outside of Europe, we see good opportunities for offshore – especially in China with its shallow water near the consumption centres on the coast, as well as in the US, where Siemens already has entered the market, being selected for the Cape Wind project.”
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