Keppel group company invests in wind power

Company News - January 20, 2012

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KV Ventus BV, a wholly-owned subsidiary of Keppel Corporation Ltdhasentered into a share purchase and subscription agreement and shareholders' agreement to acquire a 49.9 per cent stake in offshore wind turbine foundation designer OWEC Towerfor about NKr 61 million.

OWEC Tower, headquartered in Norway, specialisesin the design and engineering of offshore wind turbine foundations.

The company has developed a proprietary jacket foundation design known as OWEC Quattropod.

In a press release, Keppel said: "The OWEC Quattropod design separates and optimises the piling and jacket installation process, resulting in reduced installation costs and faster project delivery."

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