Lamprell has announced a strategic reorganisation of its business to increase the group’s focus on renewables and the energy transition, increase alignment with customers and enable it to take advantage of opportunities in offshore wind
In recent years, Lamprell has established a track record as a provider of fabrication services to the renewables industry. Since 2017, the group has fabricated over 100 foundations for the UK’s flagship offshore windfarms, with serial production for renewables projects becoming a core area of expertise for Lamprell.
At the same time, the group has accelerated its focus on digital innovation and continued to advance its traditional business of providing jack-up rigs and related energy infrastructure to the oil and gas industry, with a strong competitive position in the Middle East Gulf.
Reflecting the group’s evolution and to ensure a lean and agile organisation to maximise opportunities across these markets, Lamprell has reorganised into three distinct business units: Renewables, Digital and Oil & Gas.
The renewables business comprises the group’s existing projects providing wind turbine generator foundation fabrication services to offshore wind. Renewables opportunities currently make up US$2.5Bn (around 40%) of the group’s bid pipeline with the increase attributable to US renewables entering the pipeline.
The company said it expects to see continued strong growth in renewables opportunities in the coming years, driven by rapid expansion in core markets and by the commercialisation of floating wind, which is expected to provide significant opportunities mid-decade onwards.
Lamprell Renewables will accelerate the group’s focus on renewables projects, building on its track record in foundations and expanding Lamprell’s addressable market to product and market adjacencies where the Group’s skills have high relevance, such as base structures for floating offshore wind, HVDC and HVAC platforms and floating/offshore hydrogen production facilities.
Lamprell Renewables will also explore opportunities for the group to collaborate with others so as to increase execution capacity and support the local content objectives of its clients, as well as to move up the renewables value chain over time.