UK-based consultancy LOC Renewables, a part of LOC Group, has acquired a 70% stake in French marine energy engineering firm Innosea for undisclosed sum.
Image: An offshore wind farm. Photo: Photo by Shaun Dakin on Unsplash.
The acquisition of Innosea, a spin-off firm from Centrale de Nantes maritime & offshore engineering research department, is part of LOC’s move to expand its planning and design services scope to the offshore wind industry.
Innosea is engaged in providing engineering and modeling services for the marine environment, particularly in the areas of offshore structures & turbine engineering for fixed and floating substructures.
The firm offers a range of services to support the development cycle of marine renewable technologies and projects, from concept studies and detailed engineering, to basin and sea trials, surveys and certification support.
As part of the deal, Innosea will lead on services including site-specific wind turbine modelling, fixed and floating substructure design or package management and site surveys and investigations.
LOC will be responsible for services such as marine warranty surveys during the transport and installation phases, cable installation and logistics design.
LOC joint group CEO R V Ahilan said: “Separately, LOC Renewables and Innosea have provided a range of comprehensive services to our clients working in the offshore renewables markets for many years.”
“By acquiring Innosea, we are able to consolidate this offering ‘under one roof’, streamlining the process for our customers and furthering our strategy of ambitious growth in the renewables market.
“This acquisition, coming hard on the heels of our recent initiatives in geoscience and turbine engineering, enables LOC Renewables to provide a comprehensive capability, not only for complete early wind farm development but also for the integrated design that is so crucial to reducing costs in the sector.”
LOC Renewables said that the acquisition allows it to offer comprehensive array of services to support the offshore wind sector, ranging from the planning and permitting stages through to operation and maintenance of the completed farm.
Innosea joint founder Hakim Mouslim said: “This acquisition offers an exciting opportunity for both of our companies to accelerate our growth in the market, allowing us to extend the services we provide to our Clients and to deliver these globally together with LOC Renewables.
“In turn, our expertise and leadership in the early stages of project development will complement LOC’s existing offering.”