Ramco Inherits the Wind
Scotland’s Ramco Energy has taken on the name of its renewable energy subsidiary, SeaEnergy, and announced that the newly re-named company is also fully entering a new business: wind energy. For over 30 years, the Aberdeen company formerly known asRamco was in the oil and gas business. But now, the corporate leadership of SeaEnergy has set its sights on the emerging market for wind power. Read more about Offshore Wind Power Market Potential
Citing the emergence of the offshore wind energy market as one of the two most “significant energy stories” of the next 30 years (the other one is the opening up of Iraq’s oil reserves to private investment and development),SeaEnergy has found itself awarded with some huge offshore wind concessions in Scottish waters (totaling over 1.8 gigawatts of power to be generated) and believes that the time is ripe for pouring resources into wind farm development.
“The offshore wind opportunity is truly enormous, with more than £130bn of investment envisaged over the next 11 years through the Scottish and UK Offshore Rounds. The North Sea is once again opening up for development, this time driven by the global demand for clean energy, andSeaEnergy will be at the heart of this revolution,” says Stephen Remp, executive chairman of Ramco Energy/SeaEnergy.
The newly christened SeaEnergy has secured £7.5m from the investment company Lanstead, which is to be a 22 per cent shareholder in SeaEnergy. Ramco provided evidence to its shareholders to demonstrate why corporate leadership strongly believes that offshore wind energy production, not continued oil and gas, is the right move to make the company more profitable in the future.Ramco has begun selling off all of its oil and gas assets.
Thus far, SeaEnergy has entered into a 920 MW offshore project in Beatrice to be partnered with RWEN Power’s continuous 905 MW Inch Cape farm development project.
Read more about Offshore Wind Power Market Potential
