setec has announced its acquisition of a stake in FLOW Park Investment Limited (FPIL), a subsidiary of Offshore Solutions Group (OSG), a Scottish consulting and engineering company specialising in the wind energy industry. This investment supports the development of Moray FLOW-Park, the world’s first offshore temporary storage project for offshore wind turbine floats and turbines, scheduled for construction in 2027.
Will Rowley, Managing Director of OSG, welcomed the investment, stating:
'This investment is a key factor in the development and commissioning of the world’s first FLOW-Park for the floating offshore wind industry. We look forward to moving this project forward with the aim of starting construction in 2027.'
Located in the Moray Firth, north-east of Scotland, the Moray FLOW-Park will secure and optimise the logistics of offshore projects, from assembly to turbine integration, while reducing risks during deployment.
'The UK is a pioneer in the large-scale deployment of floating wind power, particularly in Scotland. The progress and lessons learned from this market will be invaluable. We are delighted to be involved and to be able to implement engineering solutions that will unlock the potential of floating offshore wind power and accelerate project deployment, while contributing to national and European energy mix decarbonisation targets,' said Michel Kahan, President, setec group.
This investment follows on from the acquisition of Sealand Projects earlier this year and illustrates the desire to strengthen setec‘s position and ambition in the offshore wind and marine engineering sector, as well as its presence in the English-speaking and Northern European markets.
Source: setec
