SeaEnergy (LON:SEA) has signed a letter of intent (LOI) with Norwegian shipbuilder Ulstein Group to co-develop new service vessels for the offshore wind-power industry. The company highlighted that as the offshore wind industry moves further away from the coastline, new strategies are required to make the offshore wind-farms more cost-effective.
The companies have been working together over the last months to develop a design that will “excel in operational characteristics”. According to SeaEnergy, by signing the LOI both companies want to tighten their relationship and underline that this will be a first step in jointly realizing the needs of the industry.
"The currently available units in this industry have shortcomings with respect to mobility, flexibility and operational window, which will have an even bigger impact when going further away from safe havens", SeaEnergy’s Mike Comerford commented.
"In our philosophy the vessels have to be more versatile and offer greater crew comfort, so they can stay longer offshore instead of sailing back and forth into port every day. In Ulstein we have found a partner that is able to translate our requirements into a competitive design."
SeaEnergy seeks to design vessels which can perform both the commissioning and maintenance works of wind turbines. Based on the proven Ulstein X-bow® technology, two vessel designs are currently being developed in which operational and vessel systems will be fully integrated with each other.
"The cooperation between SeaEnergy and Ulstein has been very open and we feel that our designs actually can make a significant difference in this industry. Working together as two committed companies with a long experience in the offshore industry will benefit the offshore wind industry and shorten their development cycle”, Ulstein’s Kolbjørn Moldskred.
Earlier this month, in its final results statement, SeaEnergy announced plans to re-focus its business to concentrate on marine services for the offshore wind power industry, after an assessment of the equity markets, investor sentiment and the funding environment.
SeaEnergy told investors that it has conducted a review of opportunities for the marine service business, and a detailed feasibility assessment into the best prospects is close to completion. According to SeaEnergy, this new business direction builds on the company’s experience in the oil & gas industry and "specific lessons learned" while constructing the Beatrice Demonstrator turbines.
The company plans to sell all, or a significant part, of its 80%-owned stake in its subsidiary SeaEnergy Renewables Limited (SERL), which owns a stake in a 1,300MW offshore wind power development in the North Sea.