Subsea 7 sets up offshore renewables unit in Aberdeen

(ADPnews) - Jan 20, 2011 - The newly-merged oil service company Subsea 7 SA (OSL:SUBC) said Wednesday it launched an Aberdeen-based offshore division for renewable energy.

Subsea 7 will provide project management, engineering and construction services to support offshore developments in the global
renewables industry.

The group's Offshore Renewables Division has also signed an agreement with Scottish and Southern Energy plc (SSE) under which Subsea 7 will form an alliance with SSE, Siemens plc, Siemens Transmission and Distribution Limited, both part of German Siemens AG (ETR:SIE), Burntisland Fabrications Ltd and Atkins. The alliance will cooperate to cut the cost of delivered power from offshore wind farms. Subsea 7 will be responsible for marine operations and offshore construction.

Subsea 7 was formed earlier in January via the combination of Oslo-listed sector players Acergy SA and Subsea 7 Inc.

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