A €125m credit facility has been negotiated by subsea engineering firm, DeepOcean, allowing it to expand its fleet and service offering.
The line of credit will be used, in part, to expand its activities in the European offshore wind market, chief financial officer, Frank Eggink, told Windpower Offshore. “We see offshore renewables as an area offering sustained growth,” he said.
DeepOcean is currently working on the DolWin1 export cable installation in the German North Sea. It has also installed inter-array and/or export cables at several offshore wind projects, including Bard Offshore 1, Robin Rigg, Walney 1 and Alpha Ventus. Its clients include Danish transmission system operator, Energinet.dk.