Worley formally takes over offshore wind installer 3sun

Offshore wind farm near Wales. Author: alh1. License: Attribution-NoDerivs 2.0 Generic.

October 29 (Renewables Now) - Australian engineering major Worley Ltd (ASX:WOR) announced today it has finalised its takeover of 3sun Group Ltd, a UK-based offshore wind installation, inspection and maintenance business.

Worley bought 3sun for an enterprise value of GBP 20 million (USD 25.6m/EUR 23m) with the goal of entering the growing offshore wind operations and maintenance (O&M) market and accelerating its own offshore wind strategy.

According to a presentation by Worley, 3sun has around 25% of market in offshore wind turbine installation, inspection and maintenance services in the UK, and about 15% in Europe. The firm has installed over 4,000 turbines and is currently inspecting more than 70% of the UK’s offshore wind fleet.

The acquired operations will now immediately become part of Worley’s Integrated Solutions business.

“In the coming months, we will explore how we can leverage Worley’s growing presence in offshore wind and start to identify areas where we can add further value to our customers as a result of the acquisition,” commented 3sun CEO Graham Hacon.

(GBP 1.0 = USD 1.282/EUR 1.157)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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