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KV Ventus B.V., a wholly-owned subsidiary of Keppel Corporation Ltd. (Keppel) has entered into a share and subscription agreement and shareholders’ agreement to acquire a 49.9% stake in OWEC Tower AS. Through this, OWEC Tower will strengthen its financial position and be able to meet the growing demand from the international offshore wind market.

OWEC Tower will also benefit from Keppel’s presence around the world. Trønderenergi Invest, one of the present owners, will also contribute NOK 5 million in new capital. OWEC Tower designs and engineers offshore wind turbine foundations, originally emerging from the offshore oil and gas industry. The company has developed a proprietary jacket foundation design known as OWEC Quattropod. OWEC Quattropod allows to separate and optimise the piling and jacket installation process, resulting in reduced installation costs and faster project delivery. The trend in offshore wind is to move further offshore and utilise larger turbines. As both water depth and turbines increase, a much larger portion of the foundations are expected to be jacket based.
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