Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Norway
  4. Oslo Bors
  5. Aker Solutions ASA
  6. News
  7. Summary
    AKSO   NO0010716582


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Aker : DeepOcean and Solstad Offshore Create Offshore Renewables Alliance

10/14/2021 | 02:47am EST

October 14, 2021 - International offshore energy suppliers Aker Solutions, DeepOcean and Solstad Offshore have joined forces to create Windstaller Alliance. The new partnership aims to provide the world's most cost-efficient and complete product supply, fabrication and marine services offering within offshore wind. The alliance will also pursue other offshore renewables segments.

Windstaller Alliance will combine the already well-established capabilities and expertise of the three offshore industry leaders. This will form an integrated and highly flexible one-stop-shop provider. The alliance will be able to offer product deliveries, fabrication services as well as marine and subsea operations and associated engineering services within offshore renewables industries.

"Today's supply chain for the offshore renewables market is highly fragmented and, in our view, sub-optimal in terms of efficiency, cost, risk and environmental footprint. Windstaller Alliance is able to take an integrated approach where appropriate, while unlocking value for both operators and suppliers, at the same time reducing the total carbon footprint of offshore renewable projects," said Guro Høyaas Løken, head of the Windstaller Alliance.

The Windstaller Alliance will market the three companies' offering, identify and pursue business opportunities where they cost-efficiently can combine their technologies, capabilities, experience and resources to deliver an unrivalled service to the offshore renewables sector.

The Windstaller Alliance aims to cut the amount of supplier interfaces, thereby reducing technical and commercial project risk as well as execution time through better integration of services, project management and maritime asset utilization.

Market-Leading Assets and Competence Base

Windstaller Alliance has access to a substantial product, fabrication and marine services portfolio with related engineering and project management capabilities through Aker Solutions and DeepOcean. Aker Solutions also has more than 15,000 employees and world class expertise within complex fabrication of substructures for wind turbines, including four state-of-the-art yards and a broad product offering within subsea and topside equipment.

Ocean service provider DeepOcean adds extensive experience from offshore renewables, including dedicated assets for the renewables markets, including trenchers and cable repair spreads. The company provides the alliance with specialized subsea installation and service solutions for offshore renewables through 900 employees, and more than 50 ROVs.

Solstad Offshore, which has supported offshore wind farm installations, operations and maintenance since 2009, contributes through a global presence with more than 3,600 employees and a fleet of 90 vessels available to the alliance.

"In terms of competence, size and asset base, Windstaller Alliance's offering is probably unrivalled in the marketplace. However, it is how we will integrate and join the three companies' offerings that will create the real value for both operators and us suppliers," said Lars Peder Solstad, CEO of Solstad Offshore

Alliance Offering

The alliance members will cooperate to jointly identify market opportunities and agree on a case-by-case basis which prospects and solutions to pursue. The exact execution scope and cooperation model on a specific project will be set up based on client preferences and market conditions.

In the preparatory phase for marine operations of offshore renewables projects, Windstaller Alliance will deliver engineering services as well as subsea survey, inspection and site preparation services.

The alliance may also provide product deliveries such as subsea technologies plus fabrication of substructures carrying wind turbines, plus yard services such as logistics, site management and crane operations. The alliance will furthermore provide services to optimize product designs from a marine operations perspective. In the installation phase, Windstaller Alliance has the specialist competence to provide trenching and inter-array cable lay services, and to conduct towing, mooring, hook-up and commissioning operations.

During the operations phase of an offshore renewables field, the alliance will offer life of field IMR (inspection, maintenance and repair) services, CSOVs and maintenance, modification and operations support for offshore structures.

"Windstaller Alliance can also offer project management capabilities. We believe we have an ideal set-up to tear down existing efficiency silos, reduce project risk and client cost. However, we will of course also provide a fully flexible delivery and contracting model tailored to clients' needs. The difference is that they can obtain life-of-field support in one place," said Øyvind Mikaelsen, CEO of DeepOcean.

"Aker Solutions is one of few contractors able to offer complete product solutions for offshore wind farms, including substructures and topsides for offshore wind power platforms, subsea solutions and offshore installation. Together with the alliance partners, we are dedicated to supporting the offshore renewables industry. Through the use of modern, low-emission vessels and a range of services specially designed for the renewables market, our biggest contribution to the industry will be to do things in a safer, smarter and more sustainable way," said Stephen Bull, executive vice president and head of Aker Solutions' renewables business.

Windstaller Alliance will be a non-incorporated, asset light alliance, with no joint ownership or liabilities for vessels or other assets, except for specifically agreed projects.


Media Contact:
Torbjørn Andersen, mob: +47 928 85 542, email: torbjorn.andersen@akersolutions.com

Investor Contact:
Fredrik Berge, mob: +47 450 32 090, email: fredrik.berge@akersolutions.com

Windstaller Alliance is combining the expertise of three offshore industry leaders to deliver an integrated and highly flexible offering of products, fabrication services, subsea services, marine operations and related engineering services for offshore renewables. Windstaller Alliance aims to cut the amount of supplier interfaces, thereby reducing technical and commercial project risk as well as time usage through better integration of services, project management and asset utilization. The key differentiation is that developers and operators can now obtain life-of-field support from one dedicated supplier. See www.windstalleralliance.com

Aker Solutions delivers integrated solutions, products and services to the global energy industry. We enable low-carbon oil and gas production and develop renewable solutions to meet future energy needs. By combining innovative digital solutions and predictable project execution we accelerate the transition to sustainable energy production. Aker Solutions employs approximately 15,000 people in more than 20 countries.

Visit akersolutions.com and connect with us on Facebook, Instagram, LinkedIn, Twitter and YouTube.

This press release may include forward-looking information or statements and is subject to our disclaimer, see https://akersolutions.com


(c) 2021 Cision. All rights reserved., source Press Releases - English

Stocks mentioned in the article
ChangeLast1st jan.
AKER SOLUTIONS ASA 2.09% 23.96 Real-time Quote.45.65%
SOLSTAD OFFSHORE ASA -2.80% 4.86 Real-time Quote.-49.38%
12/01KKR Completes Voluntary Offer For Norway's Ocean Yield
11/29Aker Horizons' Mainstream Renewable Power Generates $101.4 Million in Capital Raise
11/22NEWS HIGHLIGHTS : Top Energy News of the Day
11/19Aker Carbon Capture to Install Project at Dutch Waste-to-energy Plant
11/19Hanwha Solutions to Acquire Stake in Norwegian Polysilicon Firm REC Silicon
11/19NEWS HIGHLIGHTS : Top Energy News of the Day
11/18Aker Solutions Wins Contract With Petrobras For Subsea Production System
11/18EUROPEAN MIDDAY BRIEFING - Stocks Flat as Oil -2-
11/18Aker Offshore Wind-Led Consortium Wins $3 Million Contract For Wind Blade Turbine Recyc..
11/18Aker Solutions Gets Contract From Petrobras for Subsea Work Offshore Brazil
More news
Analyst Recommendations on AKER SOLUTIONS ASA
More recommendations
Sales 2021 29 138 M 3 175 M 3 175 M
Net income 2021 301 M 32,8 M 32,8 M
Net Debt 2021 3 681 M 401 M 401 M
P/E ratio 2021 39,0x
Yield 2021 0,54%
Capitalization 11 621 M 1 266 M 1 266 M
EV / Sales 2021 0,53x
EV / Sales 2022 0,44x
Nbr of Employees 14 888
Free-Float 44,9%
Duration : Period :
Aker Solutions ASA Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AKER SOLUTIONS ASA
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 9
Last Close Price 23,96 NOK
Average target price 24,00 NOK
Spread / Average Target 0,17%
EPS Revisions
Managers and Directors
Kjetel Digre Chief Executive Officer
Idar Eikrem Chief Financial Officer
Leif Arne Langøy Chairman
Hervé Valla Chief Technology Officer
Dean Watson COO & Executive VP-Subsea Lifecycle Services
Sector and Competitors
1st jan.Capi. (M$)
WORLEY LIMITED-10.53%3 787
SUBSEA 7 S.A.-27.69%2 089