Subsea 7’s revenue from its renewables and heavy lifting unit reached $220m in the first three months of 2017, up from just $2m in the same period last year.
The jump helped increase overall revenue in the period to $897m from $746m in the first three months of 2016.
The company said the renewables increase was mainly down to its foundation installation contract on the 588MW Beatrice offshore wind farm.
Subsea 7 completed the takeover of offshore wind installation contractor Seaway Heavy Lifting in March. It had previously had a 50% interest in the company.
Image: SHL
Beatrice boosts Subsea 7
Revenue from renewables and heavy lifting hits $220m in first quarter
By EBS