The UAE-based Lamprell is setting up a new business unit dedicated to the renewable energy sector as part of its wider strategic reorganization.
Lamprell stated that this comes as part of the group’s goal to increase its focus on renewables and the energy transition.
The Renewables unit will explore opportunities of collaborating with others to increase the company’s execution capacity and support the local content objectives of clients, as well as to move up the renewables value chain, consistent with the group’s strategic focus on EPC(I).
According to Lamprell, renewables opportunities currently make up USD 2.5 billion, circa 40%, of the group’s bid pipeline, with the increase attributable to U.S. renewables entering the pipeline.
The company also announced a reorganization into the Digital and Oil & Gas units, stating that the aim is to maximize opportunities across its core markets.
“This evolved structure will provide the business with greater focus as we seek to take full advantage of the many opportunities we see across our end markets,” said Christopher McDonald, Lamprell CEO.
“As the Group emerges from what we hope is the worst of the COVID-19 pandemic in good shape, the time is right for us to be positioning the Group for the next phase of its growth.”