Dutch offshore contractor Van Oord has signed a Letter of Intent (LoI) to acquire offshore wind installation contractor MPI Offshore for an undisclosed sum, the two firms announced on Friday.
Under the agreement with MPI’s parent Vroon Group, Van Oord will take possession of the target’s base in Stokesley, UK, along with jack-ups MPI Adventure and MPI Resolution with their crews and related contracts. According to the buyer, the move will help it strengthen its positions on the global wind market, particularly in the UK.
“The acquisition is fully in line with our ambitions and investment programme for the coming years”, said Van Oord’s CEO Pieter van Oord, adding that offshore wind will play an important role in energy transition.
The deal is pending clearance from competition watchdogs and is subject to due diligence completion. It is expected to close by end-September.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.