Gulf Oil and Gas accountACCOUNT

Aker Offshore Wind Increases Stake in Principle Power

Source: www.gulfoilandgas.com 11/18/2020, Location: Europe

Aker Offshore Wind has increased its ownership in Principle Power Inc from approx. 20 percent to an expected 39 percent, after exercising an option to buy further shares in the floating wind technology company.

'Principle Power is established as the industry leading provider of floating wind foundation technology, with more than 100MW of installed capacity by 2022,' said Astrid Skarheim Onsum, Chief Executive Officer of Aker Offshore Wind. 'We will actively work with Principle Power and the other shareholders to further develop technology and drive down costs across the value chain to ensure the most competitive offering globally,' she added.

Principle Power has an established track record from several years of offshore operations and 34,000 operating hours with its WindFloat foundation. The company recently saw the installation of a 9.5 MW turbine in the Kincardine project, the biggest floating wind turbine in the world to date. Three 8.4 MW WindFloat turbines are also successfully operating in the WindFloat Atlantic project off the coast of Portugal.

The transaction has a value of approx. NOK 180 million. The acquisition of shares is funded by the proceeds from the private placement completed on November 16.

Mergers and Acquisitions News in Norway >>

United Kingdom >>  1/21/2021 - Equinor and EnQuest have completed their previously announced transaction, whereby Equinor has sold a 40.8125% interest in and transferred operatorshi...
France >>  1/20/2021 - Air Liquide announces a 40% stake acquisition in the capital of the French company H2V Normandy, a subsidiary of H2V Product, which aims to build a la...

Turkey >>  1/20/2021 - UK Oil & Gas PLC (UKOG) is pleased to announce that following last week's formal government consent to the Company's 50% ownership of the 305 km² Basu...
Brazil >>  1/19/2021 - Gran Tierra Energy Inc. announced that Gran Tierra Resources Ltd. (“GTRL”), a wholly owned subsidiary of Gran Tierra, has terminated the purchase agre...

Norway >>  1/19/2021 - Aker ASA has announced that its wholly owned subsidiary, Aker Horizons, has agreed to acquire 75 percent of Mainstream Renewable Power, a leading inde...
Peru >>  1/19/2021 - PetroTal Corp. has executed final agreements with PETROPERU S.A. to complete the restructuring (the "Arrangement") of the contingent liability referen...




Norway Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.