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Offshore wind services firm Seajacks bought by Riverstone Seajacks, which owns and operates two massive jack up vessels out of Great Yarmouth, has been bought by US private equity firm, Riverstone Holdings for $207 million. Seajack's Kraken and Leviathan vessels are both purpose-built for installing offshore wind turbines. Kraken is about to commence a 15 month contract for Dong Energy to install turbines at the Walney offshore wind farm, while Leviathan is currently on a similar contract with Fluor for installations at Greater Gabbard off the Kent coast. Riverstone says it plans to grow Seajacks substantially, using the UK as a base to service European offshore wind projects. Vessels such as Seajacks' will be crucial in delivering both Round 2.5 and Round 3 offshore wind projects. Given the scale of Round 3, it is not yet clear whether supply will be able to meet demand, Niels Kragelund, of Royal & Sun Alliance's Global renewable Energy division, told _Utility Week_. Seajacks spokesperson Sebastian Brooke said the firm expected more vessels to be delivered "within the next couple of years". He said Round 3 offshore wind announcements, made earlier this month, were an important factor in the acquisition, but not critical. Source: Utility Week © Faversham House Group Ltd 2010. News articles may be copied or forwarded
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