SeaEnergy Gets Offshore Wind Grant

2010-05-14 18:57:00

Edinburgh, Scotland -- SeaEnergy PLC has secured a grant of £30,000 under the Scottish Enterprise Innovation Support Scheme to help fund the completion of a feasibility study into the service opportunities available in the expanding offshore renewables industry. The grant is funded by the European Regional Development Fund. Using its experience in the oil and gas industry and the specific lessons learned by the SeaEnergy Renewables team when constructing the Beatrice Demonstrator offshore wind turbines, SeaEnergy has conducted a preliminary review of service opportunities in the offshore renewables industry. This review has highlighted a number of interesting opportunities and a detailed feasibility study and business plan for the best of those is being completed. “During the Company’s time in the Oil & Gas industry we benefitted from having a profitable, cash generative service business to complement our higher risk, value creating E & P activities. We would like to be in that position again," said Steve Remp, SeaEnergy’s chairman. “I believe there is a significant opportunity for us to establish a renewables service business to support both the existing 1 GW of offshore wind farms that are now in operation off the UK Coast and the over 40GW of capacity planned to be built in the coming years.”

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