Archer has entered an agreement with Remold Invest to acquire floating offshore wind solutions developer Moreld Ocean Wind.
The transaction includes a minority stake in US/French technology provider Ocergy.
Moreld Ocean Wind employs close to 30 engineers in Norway, providing project management and engineering for fabrication and assembly of floating substructures for wind turbines.
The lightweight substructures, developed and designed by Ocergy, are said to suit serial production. This is because the modules can be prefabricated and assembled in ports or yards close to where the wind farm will operate.
Moreld Ocean Wind is working on various studies, front-end projects and engineering contracts on behalf of large energy companies, and is provisionally a preferred supplier with several wind farm developers working on bids for upcoming wind farm projects.
According to Archer, a specialist well services provider, the company sees opportunities as several of its oil and gas clients also have commitments or plans for floating offshore wind.
Archer has about 300 offshore engineers and project execution capability.
“The floating offshore wind market is still in its early days but is predicted to grow in the coming decades. This acquisition gives us an attractive entry point to capitalize on these market developments," CEO Dag Skindler said. “We have a flexible approach as to how we best can structure and develop the company going forward.”
