OMNI Features｜Hanwha Group Acquires 100% Stake in Philly Shipyard Secures U.S. Naval Shipbuilding Rights．Eurus Energy Enters Scottish Floating Offshore Wind Market．Cadeler and Inch Cape Sign Wind Turbine Installation Contract

Philly Shipyard
(Source: Philly Shipyard)

｜Hanwha Group Acquires 100% Stake in Philly Shipyard Secures U.S. Naval Shipbuilding Rights
On June 21, Hanwha Group announced the acquisition of 100% of Philly Shipyard by Hanwha System and Hanwha Ocean for $100 million (approximately 138 billion KRW). Established in 1997, Philly Shipyard, a subsidiary of Norway's Aker ASA, is located at the former U.S. Navy Philadelphia Naval Shipyard.

Hanwha Ocean, previously Daewoo Shipbuilding & Marine Engineering, aims to complete the transaction in Q4, marking the first Korean acquisition of a U.S. shipyard. This acquisition is considered a significant step into the U.S. defense and shipbuilding industries. Under the Jones Act, Philly Shipyard is known for constructing merchant and government vessels, being a key supplier of large commercial ships. The Act requires vessels for domestic transport to be built, flagged, and 75% sourced in the U.S.

Hanwha Group has extensive experience in shipbuilding, including offshore wind installation vessels, government ships, and commercial ships. Projects include large multipurpose training ships for the Maritime Administration (MARAD) and maintenance and conversion of naval support vessels.

｜Eurus Energy Enters Scottish Floating Offshore Wind Market
Eurus Energy UK has announced its participation in the Scottish floating offshore wind project, developed by Highland Wind Limited with Copenhagen Infrastructure Partners (CIP) as the major shareholder and Hexicon A/B as a minority shareholder. Development activities will be managed by Copenhagen Offshore Partners A/S (COP), CIP's offshore wind development partner.

Eurus Energy UK, a subsidiary of Japan's Eurus Energy Holdings Corp., is actively developing the Pentland Floating Fuel Cell and participating in an offshore wind power project in Scotland, UK. CIP and Hexicon have reached an acquisition agreement for the project, marking Eurus Energy’s first investment in offshore wind.

The project, located 7.5 kilometers off the coast of Dounreay in Caithness County, Highlands, Scotland, has received approval for an installed capacity of approximately 100,000 kW. The floating wind farm is expected to operate for up to 25 years, providing green energy to up to 70,000 households.

｜Cadeler and Inch Cape Sign Wind Turbine Installation Contract
72 Vestas 15MW turbines at 1100MW Inch Cape Offshore wind farm. The deal is projected to fall within the range of €114m-€130m with work due to commence in the fourth quarter of 2026, said the company.

Power and ESB and will generate enough energy to power the equivalent of approximately 1.6 million UK households.

Reference: hankyung.com｜PR Times｜renews.biz