Funding deal for up to 60 wind farm support vessels
Equity funding from Brook Henderson will enable OWPMS to massively expand its fleet.
North Wales UK based offshore wind farm support vessel specialists OWPMS has partnered with the Brook Henderson Group, a leader in mission critical asset services, in order to provide a bespoke package for offshore wind farm operators, focusing on vessel supply during the construction and operation and maintenance phases throughout Europe, Asia and North America.
Brook Henderson is committing substantial financial resources, with equity of over £30m, to building a fleet of up to 60 vessels and create some 200 full time jobs over the coming 24 months.
Paul Walsh and Eddie Ward, co-founders of OWPMS, are delighted with the joint venture and have issued a statement which says, ‘Due to recent events within the banking sector it’s made raising funds to build new vessels very difficult and was preventing us from expanding to allow us to tender for new work. We are therefore very pleased to be welcoming the Brook Henderson Group onboard, who have shown both faith in us as a successful operating company and who can see the benefits of investing in this sector of the renewable energy market. This partnership means we can now pick up and proceed with new and existing tender opportunities as a preferred supplier to the utilities and develop new markets outside of Europe. We can now fund an ambitious build programme for our clients and offer them the reassurances of contracting with ourselves and the Brook Henderson Group.’
Newly appointed commercial director Rob Stewart, formerly of South Boats Special Projects, laid out the strategy of the joint venture, saying, ‘We are looking at this industry from the future rather than organically growing from the past. The design of vessels, access systems, fleet structures and training need to be rationalized as part of an integrated approach, focussing on safe, cost effective reliable access to the turbines. Above all it is about partnering with the client and fitting our service around their strategy.’
OWPMS (Offshore Wind Power Marine Services) owns, operates and manages an expanding fleet of purpose built offshore wind farm service/crew transfer vessels. Since delivery of the company’s first vessel, Offshore Provider, in 2006, OWPMS has provided services at North Hoyle, Burbo, Barrow, Robin Rigg, Rhyl Flats, Gunfleet Sands, and Thamet offshore wind farms, completing more than 135,000 successful transfers.
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