Eiffage Taking Over Dutch Offshore Substation Manufacturer

April 1, 2025, by Adrijana Buljan

Eiffage, through Smulders, has moved to take full ownership of HSM Offshore Energy, the Netherlands-based manufacturer of offshore platforms and their substructures.

The companies said in a joint press release that they signed an agreement on 31 March, under which Eiffage would acquire 100 per cent of HSM Offshore Energy, with the transaction subject to approval by the competition authorities.

According to Eiffage, HSM Offshore Energy generates annual revenues of nearly EUR 300 million and employs 140 people.

Eiffage also says HSM Offshore Energy and Smulders are strongly complementary across the Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) value chain to provide topsides for offshore wind farms and emerging markets.

Smulders specialises in the engineering and construction of offshore wind transition pieces, jacket foundations and high-voltage substations structures, while HSM Offshore Energy delivers integrated solutions in EPCIC, in particular electrical and mechanical systems for offshore energy projects. HSM is also focusing on topsides for new markets like carbon capture & storage (CCS) and hydrogen.

The two companies frequently cooperate as offshore projects increase in size, Eiffage noted.

In March, a consortium comprising HSM Offshore Energy, Smulders, and Iv-Offshore & Energy rolled out an offshore substation topside built for the German transmission system operator (TSO) 50Hertz at the HSM Offshore Energy yard in Stormpolder. The substation is part of the grid connection for the Windanker offshore wind farm.