Awilco-owned Integrated Wind Solutions (IWS) has announced the acquisition of 30% of PEAK Wind
PEAK Wind is an independent provider of operations and asset management advisory and services for offshore and onshore wind. In addition, PEAK Wind delivers consultancy services and data analytics to a broad range of renewables clients.
The company currently employs 90 people on three continents and has around 1.0 GW of offshore and onshore wind assets under management. It is based in Denmark and has a global footprint with offices and operations in Taiwan, the US and Europe.
In July 2021, IWS – whose subsidiary Awind recently ordered two service operation vessels (SOVs) and was awarded a contract for one of them on the Dogger Bank offshore windfarm – made its first acquisition, acquiring a 75% stake in Procon Group, a Danish engineering, construction and service solution provider specialising in electrical and technical solutions to the renewables industry.
Apart from owning and operating SOVs, IWS wants to become an integrated service provider, providing engineering, product and manpower services during the installation, commissioning and operations phase of offshore windfarms.
IWS chief executive Lars-Henrik Røren said of the new deal, “We anticipate increased demand for independent operation and asset management services for offshore windfarms. The position PEAK Wind has achieved since its inception in 2017 is impressive. Acquiring a stake in the company is a perfect opportunity to further accelerate our growth prospects, in line with our strategy of offering a broad range of services to the wind industry.”
The 30% share of the company was acquired by IWS from its co-founders at a total price of Dkr90M (US$14M). IWS will have two out of five seats on PEAK Wind’s board of directors and the company’s management will remain unchanged. The deal is expected to close by the end of September 2021 and IWS has an option to increase its ownership to 49% within three years at a pre-agreed fixed price.
PEAK Wind chief executive Michael Andersen said, “Integrated Wind Solutions and PEAK Wind complement each other well. By joining forces we will strengthen our combined platform for growth. Both companies share an ambition to deliver best-in-class services to the wind energy industry.”
Riviera Maritime Media will provide free technical and operational webinars in 2021. Sign up to attend on our events page