Dutch construction company Royal BAM Group has exited the offshore wind foundations business.
The company said it was pulling out of the sector as part of an “ongoing portfolio review”.
New half-year results show BAM booked a €10.3m “impairment of intellectual property” related to the decision.
The company’s most recent work in the sector was fabricating five float and submerge foundations at EDF Renewables’ 41.5MW Blyth offshore wind farm off north-east England.
The gravity-base units, which feature MHI Vestas turbines, were completed at the Neptune Dry Dock (pictured) on the Tyne and installed offshore in 2017.
The company recorded a €52m loss in the first six months of the year, down from a €44m profit in the same period in 2018, largely due to higher costs on a civil projects and construction sites in Germany.