Subsea specialist Subsea 7 is consolidating its Renewable Energy Division, which it established in 2011, into its 50%- owned joint venture Seaway Heavy Lifting (SHL).
The company says the consolidation will rationalise its offering to the renewables market, and enable offshore installation specialist SHL to leverage Subsea 7’s engineering and project management expertise to broaden its range of services and target larger projects.
SHL was founded in 1992 and operates the crane vessels Stanislav Yudin and Oleg Strashnov, with their revolving lift capacities of 2,500mt and 5,000mt respectively.
Subsea 7’s renewables division was established to principally target offshore wind projects in Europe, said the company. SHL has established a track record of successfully delivering offshore wind installation projects.
Subsea 7’s Chief Executive Officer, Jean Cahuzac said: “The combination of Subsea 7’s engineering, project management and offshore delivery expertise with SHL’s existing capability in transport and installation of marine structures will create a company with the resources to better compete in the growing offshore renewables sector. We look forward to demonstrating how this new combination can deliver an extended offering to clients in a safe and cost effective way.”
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