EnergyWatch

Norwegian oil services company buys its way into wind

Aker Solutions has entered a new business area with the acquisition of the company behind the floating wind concept Windfloat.

Photo: Principle Power

It is not only in times of crisis that companies from the oil and gas sector expand into offshore wind. Norwegian oil services company Aker Solutions, which presented its best quarterly report in decades, is delving into green energy with a 5 percent share of floating wind company Principle Power. A share which will be increased to 10 percent at the end of the year, while options for further ownership will come at a later date, announces Aker Solutions.

"We see a major opportunity in offshore floating wind where demand is growing in the transition to a low-carbon future," says Aker Solutions Chief Executive Officer Luis Araujo.

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