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    AKSO   NO0010716582

AKER SOLUTIONS ASA

(AKSO)
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Aker Solution : , DeepOcean and Solstad Offshore Create Offshore Renewables Alliance

10/14/2021 | 02:48am 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.

ENDS

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 (https://www.facebook.com/AkerSolutions/),
Instagram (https://instagram.com/akersolutions/),
LinkedIn (https://www.linkedin.com/company/aker-solutions),
Twitter (https://twitter.com/akersolutions) and
YouTube (https://www.youtube.com/akersolutions).

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

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

Stocks mentioned in the article
ChangeLast1st jan.
AKER SOLUTIONS ASA -1.96% 23.47 Real-time Quote.45.53%
SOLSTAD OFFSHORE ASA -0.79% 5 Real-time Quote.-47.50%
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Sales 2021 29 138 M 3 200 M 3 200 M
Net income 2021 301 M 33,1 M 33,1 M
Net Debt 2021 3 681 M 404 M 404 M
P/E ratio 2021 38,2x
Yield 2021 0,55%
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Nbr of Employees 14 888
Free-Float 44,9%
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Number of Analysts 9
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Kjetel Digre Chief Executive Officer
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Leif Arne Lang°y Chairman
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Dean Watson COO & Executive VP-Subsea Lifecycle Services
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