Subsea 7 expecting more work from offshore wind as costs fall
Posted by Charles Decuir on April 27, 2017 1:45 PM EDT
Subsea 7’s CEO Jean Cahuzac says the company has increased its focus on renewable energy and anticipates more project awards from that segment to come to market as the economics of offshore windfarms continue to improve.
With this focus on offshore wind in mind, Subsea 7 recently completed the acquisition of the remaining 50 per cent of Seaway Heavy Lifting that it did not already own. This has led to the establishment of a new business unit, renewables and heavy lifting.