Renewable energy consultancy Natural Power has acquired a stake in NPP Renewables.
The 25.5% slice is in addition to the 25.5% of shares acquired by Fred Olsen holding company Bonheur ASA.
NPP Renewables’ founding directors will maintain a combined 49% stake in the business, whilst NPP Renewables will retain its corporate identity and continue to operate as an independent company.
NPP Renewables is based in Vejle, Denmark, with further offices in Denmark, the US and Taiwan.
It operates out of two main subsidiaries: New Power Partners, a renewables consultancy with a particular focus on offshore wind; and Site Solution Partners, a site logistics and accommodation provider for onshore and offshore projects.
Natural Power chairman Nick Emery said: “Throughout our engagement with NPP Renewables, we have been impressed by the ambition, pedigree and level of expertise demonstrated.
“The significant synergies between the companies are clear, and we are excited by the future opportunities this relationship presents in the global offshore wind market.”
The company was founded in 2015 by Thomas Gellert and Tonni Bager, with Peter Forsberg joining in 2016, and all three remaining as company directors.
“The founders have a background in the offshore wind industry, and since 2008 have held various positions ranging from hands-on-senior project manager and offshore wind specialist engagements to EPCI director level roles.
“The company has grown to more than 65 employees and close to DKK100m (€13.4m) in revenue.”
NPP Renewables chief executive Thomas Gellert added: “The growth journey of Natural Power and its achievements throughout the past 20 years plus are highly impressive and a great example to us.
“With Natural Power as a partner, we ensure a high degree of synergies between us combining our strong offshore development and construction EPCI competencies with Natural Power’s large service offering catalogue and strong industry network.”
New Power Partners’ core business is the provision of development and construction services as well as experienced hands-on EPCI management and project personnel to support the development, pre-construction and construction phase of projects, potentially and often embedded into the clients’ project team including senior levels roles.
The team specialises in foundations, cables, offshore substation structures, wind turbine generators, transport and installation, project certification and more.
Through its deep involvement in offshore wind projects during the past six years, New Power Partners has obtained extensive knowledge and practical experience, Natural Power said.
Site Solution Partners provides temporary accommodation, logistical services and construction support for wind power projects including turnkey accommodation and on-site facilities, staff transportation, site management, food service, cleaning, laundry and more.
The company has built a solid track record serving a number of tier one clients, Natural Power added.
NPP Renewables’ capabilities complement Natural Power’s advisory, project management and engineering expertise in the development, construction and operational phases of renewable projects and provides the opportunity for the two organisations to grow by supporting each other in products, services and geographical reach.
Natural Power’s involvement is also expected to contribute value through its experience in scaling and operating a comparable consultancy.