Marubeni Corp and Innovation Network Corp of Japan (INCJ) have signed an agreement with Riverstone Holdings, a US investment fund, for full acquisition of Riverstone’s subsidiary company, Seajacks International, a UK based offshore wind power service provider.
Marubeni and INCJ are investing on a 50-50 share basis.
Marubeni said the acquisition marks the first full scale entry by a Japanese enterprise into the offshore wind power installation business utilizing special turbine installation vessels.
Seajacks is engaged in the offshore turbine and platform service industry, and has been providing efficient services with its one of a kind turbine installation vessels to offshore wind farms as well as oil and gas platforms predominantly in the North Sea.
Since November 2011, Marubeni has taken an equity stake in the 172MW Gunfleet Sand offshore wind farm and intends to extend its presence in the value chain for offshore wind power with the addition of Seajacks.