Tekmar Group plc, a prominent player in the offshore energy sector, has announced the acquisition of a contract valued at over €8 million. This contract is with an existing Engineering, Procurement and Construction (EPC) client, marking a continuation of their established relationship.
Richard Turner, the CEO of Tekmar Group, expressed satisfaction with the contract award, highlighting it as a testament to the company’s strong position in the subsea asset protection market. He noted that Tekmar’s technologies currently safeguard approximately two-thirds of the global offshore wind capacity, underscoring the company’s significant role in this rapidly growing industry.
The new contract is expected to enhance Tekmar’s order book and improve operational utilization, providing the company with greater revenue visibility in the long term. This development comes at a time when the offshore wind sector is experiencing substantial growth, driven by increasing investments in renewable energy and the global push for sustainable power sources.
As the demand for offshore wind energy rises, Tekmar’s expertise in asset protection technology positions it well to capitalize on future opportunities in this sector. The contract not only reinforces the company’s market leadership but also reflects the ongoing trend of collaboration between technology providers and EPC firms in the offshore wind space.
Overall, this contract award is a significant milestone for Tekmar Group, further solidifying its role in the offshore energy landscape and contributing to the broader transition towards renewable energy solutions.
This article was submitted via the World of Renewables press desk.
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