SeaEnergy PLC

Press: 06.06.11: -30.25, (39.25) Press: SeaEnergy fell after selling its renewables business, which has a stake in three offshore wind farm... read more

Press: 06.06.11: -30.25, (39.25) Press: SeaEnergy fell after selling its renewables business, which has a stake in three offshore wind farm sites off the coast of Scotland, to Repsol for an enterprise value of GBP50m. The proceeds will not be returned to shareholders but used to fund the company?s marine business. ?SeaEnergy?s sale of its interests in SeaEnergy Renewables provides it with the much-needed capital to build out its Marine business, which we believe is likely to generate shareholder value quicker than the offshore wind assets. However, it is still a relatively nascent business and, therefore, it will require time to develop,? said Ambrian Partners. Source - Financial Times

Press: 18.05.11: -6.25, (57.50) Press: SeaEnergy fell after announcing there was nothing new to say about the potential disposal of its... read more

Press: 18.05.11: -6.25, (57.50) Press: SeaEnergy fell after announcing there was nothing new to say about the potential disposal of its offshore wind farm business. Source - Financial Times

Press: SeaEnergy rose pending news on the delayed sale of the wind farm business, which it put on the market nearly a year ago. Source - Financial Times

Press: SeaEnergy rose pending news on the delayed sale of the wind farm business, which it put on the market nearly a year ago. Source - Financial Times

Renewable energy company SeaEnergy PLC said it has moved a step closer to launching a marine services business for offshore wind farms after agreeing a deal with a maker of platforms that give technicians easy access to turbines. SeaEnergy, which is seeking a buyer for its wind farm development unit after deciding to focus instead on servicing wind turbines, said it signed an exclusive deal with Ampelmann, a maker of self-stabilizing platforms for ships. Aberdeen, Scotland-based SeaEnergy said it intends to use Ampelmann?s platforms on X-Bow ships made by Norway?s Ulstein designed to cope with rough seas. The combination will enable wind farm developers to give technicians access to turbines for maintenance all year round, regardless of conditions, SeaEnergy said. Access to offshore structures in challenging conditions is one of the key issues for the industry, said SeaEnergy executive chairman Steve Remp. SeaEnergy added it has also agreed to work with Ulstein to develop new vessels specifically designed for the offshore wind industry. The five-year deal with Ampelmann covers the U.K. territorial waters, the North Sea, the Irish Sea, the Baltic Sea and the English Channel. Analyst Ken Rumph at Nomura Code Securities said in a note to clients Wednesday that investors at a recent Nomura seminar on wind power identified services and vessels as the sector of the wind power industry most likely to provide the best returns. However, Rumph added that SeaEnergy?s ability to develop its fledgling marine services business--it will need capital to lease and equip vessels--hinges on the successful disposal of its SeaEnergy Renewables Ltd. arm, which owns stakes in wind farm licenses off the U.K. coast. The company put the unit up for sale in June after investors balked at the funding needed to develop the licenses over the next few years. SeaEnergy isn?t the only company eyeing a slice of the fledgling market for servicing turbines, which is forecast to expand as more turbines are built. Thousands of turbines are scheduled to be constructed off the U.K. coast alone over the next 10 years. In July, marine safety company Cosalt PLC (CSLT.LN) entered a joint venture with Danish engineering company APRO to provide safety inspection and maintenance services to offshore wind projects. Lamprell PLC (LAM.LN), an oil and gas engineering firm, has also expanded into the sector. It has won contracts to build vessels for installing wind turbines from companies including Seajacks 3 Ltd. and Fred Olsen Windcarrier AS. -By Jason Douglas, Dow Jones Newswires; 44-20-7842-9272; jason.douglas@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today?s most important business and market news, analysis and commentary: 11.08.10 :-1, (26.25) Renewable energy company SeaEnergy PLC said it has moved a step closer to launching a marine services business for... read more

Renewable energy company SeaEnergy PLC said it has moved a step closer to launching a marine services business for offshore wind farms after agreeing a deal with a maker of platforms that give technicians easy access to turbines. SeaEnergy, which is seeking a buyer for its wind farm development unit after deciding to focus instead on servicing wind turbines, said it signed an exclusive deal with Ampelmann, a maker of self-stabilizing platforms for ships. Aberdeen, Scotland-based SeaEnergy said it intends to use Ampelmann?s platforms on X-Bow ships made by Norway?s Ulstein designed to cope with rough seas. The combination will enable wind farm developers to give technicians access to turbines for maintenance all year round, regardless of conditions, SeaEnergy said. Access to offshore structures in challenging conditions is one of the key issues for the industry, said SeaEnergy executive chairman Steve Remp. SeaEnergy added it has also agreed to work with Ulstein to develop new vessels specifically designed for the offshore wind industry. The five-year deal with Ampelmann covers the U.K. territorial waters, the North Sea, the Irish Sea, the Baltic Sea and the English Channel. Analyst Ken Rumph at Nomura Code Securities said in a note to clients Wednesday that investors at a recent Nomura seminar on wind power identified services and vessels as the sector of the wind power industry most likely to provide the best returns. However, Rumph added that SeaEnergy?s ability to develop its fledgling marine services business--it will need capital to lease and equip vessels--hinges on the successful disposal of its SeaEnergy Renewables Ltd. arm, which owns stakes in wind farm licenses off the U.K. coast. The company put the unit up for sale in June after investors balked at the funding needed to develop the licenses over the next few years. SeaEnergy isn?t the only company eyeing a slice of the fledgling market for servicing turbines, which is forecast to expand as more turbines are built. Thousands of turbines are scheduled to be constructed off the U.K. coast alone over the next 10 years. In July, marine safety company Cosalt PLC (CSLT.LN) entered a joint venture with Danish engineering company APRO to provide safety inspection and maintenance services to offshore wind projects. Lamprell PLC (LAM.LN), an oil and gas engineering firm, has also expanded into the sector. It has won contracts to build vessels for installing wind turbines from companies including Seajacks 3 Ltd. and Fred Olsen Windcarrier AS. -By Jason Douglas, Dow Jones Newswires; 44-20-7842-9272; jason.douglas@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today?s most important business and market news, analysis and commentary: 11.08.10 :-1, (26.25) Renewable energy company SeaEnergy PLC said it has moved a step closer to launching a marine services business for offshore wind farms after agreeing a deal with a maker of platforms that give technicians easy access to turbines. SeaEnergy, which is seeking a buyer for its wind farm development unit after deciding to focus instead on servicing wind turbines, said it signed an exclusive deal with Ampelmann, a maker of self-stabilizing platforms for ships. Aberdeen, Scotland-based SeaEnergy said it intends to use Ampelmann?s platforms on X-Bow ships made by Norway?s Ulstein designed to cope with rough seas. The combination will enable wind farm developers to give technicians access to turbines for maintenance all year round, regardless of conditions, SeaEnergy said. Access to offshore structures in challenging conditions is one of the key issues for the industry, said SeaEnergy executive chairman Steve Remp. SeaEnergy added it has also agreed to work with Ulstein to develop new vessels specifically designed for the offshore wind industry. The five-year deal with Ampelmann covers the U.K. territorial waters, the North Sea, the Irish Sea, the Baltic Sea and the English Channel. Analyst Ken Rumph at Nomura Code Securities said in a note to clients Wednesday that investors at a recent Nomura seminar on wind power identified services and vessels as the sector of the wind power industry most likely to provide the best returns. However, Rumph added that SeaEnergy?s ability to develop its fledgling marine services business--it will need capital to lease and equip vessels--hinges on the successful disposal of its SeaEnergy Renewables Ltd. arm, which owns stakes in wind farm licenses off the U.K. coast. The company put the unit up for sale in June after investors balked at the funding needed to develop the licenses over the next few years. SeaEnergy isn?t the only company eyeing a slice of the fledgling market for servicing turbines, which is forecast to expand as more turbines are built. Thousands of turbines are scheduled to be constructed off the U.K. coast alone over the next 10 years. In July, marine safety company Cosalt PLC (CSLT.LN) entered a joint venture with Danish engineering company APRO to provide safety inspection and maintenance services to offshore wind projects. Lamprell PLC (LAM.LN), an oil and gas engineering firm, has also expanded into the sector. It has won contracts to build vessels for installing wind turbines from companies including Seajacks 3 Ltd. and Fred Olsen Windcarrier AS. -By Jason Douglas, Dow Jones Newswires; 44-20-7842-9272; jason.douglas@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today?s most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=yDPl8Aoz%2FN%2Fulufzvnvzgg%3D%3D. You can use this link on the day this article is published and the following day.