Worley in $38m play to enter wind farm biz

Worley has acquired 3sun Group, a UK-based offshore wind energy installation and maintenance business, for £20 million ($A37.6 million).

Worley, which changed its name last week from WorleyParsons, on Monday said the acquisition would let it enter the growing offshore wind energy operations and maintenance business.

3sun Group has about a 25 per cent market share of the offshore wind turbine installation, maintenance & inspection services in the UK, and about 15 per cent of the European market.

Worley said offshore wind energy provided higher yields than onshore due to stronger and more consistent winds, with the sector expanding significantly over the past 10 years as development costs shrink.

“This acquisition demonstrates Worley’s commitment to the renewables sector in the energy transition,” chief executive Andrew Wood said.


Be the first to comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.