New Offshore Wind O&M Company Emerges in Norway

Norway-based Akastor ASA and IKM Industrial Group have joined forces to launch an operations & maintenance (O&M) company targetting developers, operators, sub-suppliers, and owners of offshore renewables infrastructure, including offshore wind farms.

The company, named Føn Energy Services, will provide a fully integrated service offering inspection and maintenance services for Balance of Plant (BoP) equipment, including foundations, inter-array cables, and substations.

Føn Energy Services will also offer work such as periodic and event-based inspection, preventive and corrective maintenance, major repairs, as well as solve logistics and vessel management on behalf of customers.

“The O&M segment within offshore wind accounts for a significant part of the cost throughout the project lifecycle. We are seeking to industrialize and digitize this segment enabling us to create a market leading and streamlined O&M offering. We are delighted to join forces with IKM to realize these plans,” said Karl Erik Kjelstad, CEO of Industrial investment company Akastor ASA.

Rahman Khanani will head up the new venture.

“We aim to support our clients by taking charge of operations and maintenance requirements that need to be solved through the development, construction and operational phases of an offshore wind farm,” said Rahman Khanani, the newly appointed CEO of Føn Energy Services.

Akastor will provide funding for the business, while IKM Group will move the operations of crane and lifting specialist IKM K&L and engineering company IKM Tech Team Solutions into the new O&M company.

Through a wholly owned subsidiary, Akastor and IKM Group will each own 44 per cent of Føn Energy Services, while the remaining twelve per cent will be owned by the management of the company.

Akastor ASA, which has the Aker Group as its largest shareholder with 36.7 per cent, is an oil-services investment company with a portfolio of industrial and financial holdings. The company was established in 2014 following a demerger of Aker Solutions.

IKM Group is a complete service provider for the oil and gas industry.

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