Norway-headquartered Integrated Wind Solutions (IWS) has acquired 30 per cent ownership in the Danish provider of operations and asset management advisory and services for offshore wind, PEAK Wind Group ApS (PEAK Wind).
The three PEAK Wind co-founders will retain 70 per cent ownership after the transaction valued at DKK 90 million (approx. EUR 12 million) closes, most likely during this month.
IWS also has an option to increase its ownership to 49 per cent within three years, at a pre-agreed fixed price from this initial transaction, according to the company.
The new acquisition follows the one from earlier this year, when IWS invested DKK 60 million (around EUR 8 million) into the provider of electrical and technical solutions ProCon, becoming the majority shareholder of the Danish company.
The Norwegian company aims to become a leading offshore wind service player by integrating service operation vessels with engineering, product and manpower services for offshore wind installation, commissioning and operations phases, according to its press release from July.
In June, IWS subsidiary Awind won a contract with Dogger Bank Wind Farm for the first of its two Commissioning Service Operation Vessels (CSOVs), ordered from China Merchants Industry in March and scheduled to go into service in 2023.
PEAK Wind has also secured new offshore wind contracts since the beginning of this year, with one of the latest signed this April for the provision of commercial client consultancy services to Greater Copenhagen Utility (HOFOR) and Lillebælt Vind for their nearshore wind projects in Øresund and Lillebælt, Denmark.
The company is headquartered in Denmark and has offices and operations in Taiwan, the US, and Europe, with 90 employees across three continents and around 1,000 MW of offshore and onshore wind assets currently under management.