Ramco announces that it has participated in the formation of a new subsidiary, SeaEnergy Renewables Limited (“SeaEnergy”), in which it has an 88 per cent. interest, with the founding management team owning the remaining interest.
SeaEnergy has been created to exploit the global opportunities for large scale offshore wind farm development. SeaEnergy has assembled a leading offshore wind farm development team; which will now, with Ramco’s support, bring their combined extensive offshore expertise to the development of deep water offshore wind farms.
The SeaEnergy team has decades of experience in the offshore oil and gas industry and most recently completed the Beatrice Wind Farm development for Talisman Energy and Scottish and Southern Energy. Ramco will also provide the team with corporate and project finance expertise as well as the experience of building and managing large consortia to develop and support projects of the magnitude required for large-scale offshore wind farm developments.
The team, through the Beatrice Wind Farm development, have delivered a series of “first ever” feats never before attempted in offshore wind farm development, including:
• The first ever use of the world’s largest wind turbine (5MW) offshore
• The first ever use a “jacket” subsea structure for an offshore wind turbine
• The first ever deployment of a wind turbine in deepwater (45 metres)
• The first ever assembly of a turbine, tower, rotor, and blades onshore for installation in one piece offshore
SeaEnergy’s strategy is to develop, project manage, own and operate large-scale offshore deepwater (20m – 50m) wind farms, with significant generating capacity. This market is growing significantly with the wind industry growing at 10-15 per cent. globally, and new aggressive renewable energy targets mandated across the EU. SeaEnergy has already identified a number of potential opportunities which the team are looking to develop, initially these are expected to be in the EU.
Steve Remp, Chairman of Ramco, said:
“I have been searching for the right entry point to the marine renewables business since first realising the enormous future potential that this industry has. With the Beatrice wind farm team in place, I believe SeaEnergy has the key to start to unlock that potential.
There is a real opportunity for Scotland to capture a lead in offshore wind technology in much the same way that it has in the offshore oil and gas industry. There is no reason why the growth in offshore wind can’t pick up the slack as offshore oil and gas declines in the years ahead.
SeaEnergy will be working hard to make that happen.”
SeaEnergy Renewables Limited
SeaEnergy has been created to exploit global opportunities for large-scale offshore wind farm development. The Company’s originators, Steve Remp and Joel Staadecker, have assembled the world’s leading offshore wind farm development team. That team now brings to the development of relatively deep water offshore wind farms, which are rapidly emerging on a global scale, their decades of offshore project development and management xpertise in the offshore oil and gas sector. The company’s aim is to develop, own and operate these wind farms globally.
The concept for SeaEnergy was developed with the support and involvement of Ramco Energy ("Ramco"), the AIM-listed oil and gas company of which Steve Remp is also Chairman.
Highlights
• World-class offshore project development and management team assembled. The SeaEnergy team has decades of experience in the offshore oil and gas industry and most recently completed the Beatrice Wind Farm development for Talisman Energy and Scottish and Southern Energy.
• The Beatrice Wind Farm development comprises a series of "first ever" feats never before attempted in offshore wind farm development, including:
- The first ever use of the world’s largest wind turbine (5MW) offshore
- The first ever use a "jacket" subsea structure for an offshore wind turbine
- The first ever deployment of a wind turbine in deepwater (45 metres)
- The first ever assembly of a turbine, tower, rotor, and blades nstallation onshore for i in one piece offshore
• SeaEnergy’s strategy is to develop, project manage, own and operate large-scale offshore deepwater (20m - 50m) wind farms, with signiicant geerating capacity.
• SeaEnergy’s team will provide unrivalled technical, project management and offshore operations expertise.
• Ramco will also provide the team with corporate and project finance expertise as well as the experience of building and managing large consortia to develop and support projects of the magnitude required for large-scale offshore wind farm developments.
• A market growing significantly; wind industry growing at 10-15% globally, and new aggressive renewable energy targets mandated across the EU.
• SeaEnergy has already identified a number of potential opportunities which the team are looking to develop, initially these are expected to be in the EU.
Joel Staadecker, SeaEnergy CEO commented:
"The EU renewable energy mandates have resulted in significant financial incentives being put in place and our team has the expertise to deliver the vast potential that offshore wind holds for ensuring security of supply and gaining control of carbon emissions growth.
The long head start that Europe has over North America in wind energy development, and especially in deepwater offshore wind, means this region will continue to be at the forefront of technical and operational innovation; our team has been spearheading these developments.
This is a growing and vital industry. In a world with $130+ oil and real international ressures to reduce greenhouse gas emissions, the stage is set for renewables to be a crucial element of the energy mix in the 21st Century. "
Allan MacAskill, SeaEnergy Business Development Director commented:
"Our experience in offshore oil and gas developments is exactly what is needed to successfully tackle the size and scope of largescale offshore wind farm developments - we’ve been dealing with these critical, complex and very highcost logistical and operational challenges - involving heavy lifts, largescale subsea structures, and equirements for long service lives - throughout our careers, especially in North Sea operations."
Steve Remp, Chairman of SeaEnergy commented:
"As the magnitude of the opportunity afforded by offshore wind power has become progressively more recognized, the potential, on a global scale, for a Company with SeaEnergy’s expertise is massive. Importantly, there is a real opportunity for Scotland to capture a lead role in offshore wind technology in much the same way that it has in the offshore oil and gas industry. There is no reason why the growth in offshore wind cannot pick up the slack as offshore oil and gas declines in the years ahead.
I am delighted to have secured Ramco's support and active involvement. We at Ramco believe SeaEnergy offers some very real potential which will benefit shareholders. I am equally pleased to be serving as SeaEnergy's Chairman.
Ramco will play a very important role in SeaEnergy’s development, bringing some 30 years experience in offshore contracting and operations as well as an important history and expertise in consortia building and corporate and project finance - skills which will be vital to SeaEnergy in realising its ambitions."
Background and Value Add SeaEnergy has put together a team with extensive operating experience in offshore oil and gas development. Members of the team have most recently completed the Beatrice Wind Farm development for Talisman Energy and Scottish and Southern Energy. The Beatrice Wind Farm, the world’s first deepwater (water depths >30 meters) wind farm, involved the installation of the two largest wind turbines ever deployed in offshore waters (5MW each). The wind farm is located in the Moray Firth, 25km off the east coast of Scotland in water depths up to 45 metres. The Beatrice Wind Farm was undertaken as a "demonstrator" project with sponsorship support from the European Union "DOWNVInD" research program as well as backing from the British and Scottish governments. In addition to being the first deployment of the world’s largest wind turbines offshore in the deepest water, the project also involved the first ever use of a "jacket" subsea structure to support the turbine installations, and was the first offshore project to involve full assembly of the turbine, tower, rotor and blades onshore for installation as a single piece offshore. These revolutionary approaches were incorporated from offshore oil and gas industry practice and represent the way in which the SeaEnergy team expects to leverage their extensive ffshore operating experience in mitigating the risks associated with large-scale offshore developments.
Ramco will provide offshore contracting and operations experience as well as crucial orporate finance expertise which will be vital in bringing to fruition projects of the agnitude that the Company envisage developing.
Review all our latest Renewable Energy news and companies.
