SeAH Acquires Total Stake in UK Based Monopile Maker SEAH Wind
South Korea's Seah Steel Holdings in a regulatory filing said that it has raised its stake in SeAH Wind, a new overseas subsidiary based in Britain, to 100% through the purchase of shares worth KWR 50.1 billion (USD 44 million). The subsidiary will control a monopile production plant to be built in a coastal area northeast of London in Able Marine Energy Park on the Humber under a deal in November 2020 with the British government.
According to separate news in ReNew.Biz, UK government is providing financial support to new offshore wind manufacturing investments that have been announced by SeAH Wind and Smulders Projects UK. SeAH Wind is to receive grant funding towards a new monopile foundation factory at the Able Marine Energy Park on the Humber. SeAH Wind has committed to invest a total of GBP 260 million over the next three years. Smulders Projects UK will receive funding towards a GBP 70 million investments in new equipment and infrastructure to enable the manufacture of offshore wind turbine transition pieces at its existing site in Wallsend in Newcastle. Government backing will come from the GBP 160 million Offshore Wind Manufacturing Investment Support scheme, which will support the private investment by both companies.
The plant will supply monopiles for Britain’s state-led offshore wind power project. With commercial production set for the first quarter of 2023, SeAH aims to produce more than 100 monopiles per year, which accounts for about half of Britain's annual demand. Start of manufacturing operations is anticipated to begin in 2023, reaching some 240,000 tonnes in order to respond to the sharp increase in global demand of monopiles.
Support structures for fixed offshore wind turbines include monopiles and jacket foundations. A monopile is a simple structure consisting of a steel pipe driven into the seabed, providing a fixed foundation for an offshore wind turbine. Fixed offshore wind farms are generally installed in shallow waters while floating wind turbines are located in deep waters where traditional bottom fixed installations are not suitable.