UAE group Lamprell sets up renewables, digital and energy units

UAE group Lamprell sets up renewables, digital and energy units

Lamprell, a leading provider of engineering, procurement, construction and other contracting services for the energy industries, has announced a strategic reorganisation of the group into three distinct business units: Renewables, Digital and Oil & Gas. The move is mainly aimed at increasing the group's focus on renewables and the energy transition, increase alignment with customers and enable the group to take full advantage of the significant opportunities in its core markets, said the statement from Sharjah-based group. Lamprell said the renewables business comprises its existing projects providing wind turbine generator foundation fabrication services to offshore wind. Renewables opportunities currently make up $2.5 billion (around 40% of the group's bid pipeline) with the increase attributable to US renewables entering the pipeline, stated its top official. "We expect to see continued strong growth in renewables opportunities in the coming years, driven by rapid expansion in core markets and by the commercialisation of floating wind which is expected to provide significant opportunities mid-decade onwards," remarked CEO Christopher McDonald. Lamprell's experience, expertise and central geographic location provides the group with a strong position to access the expansion of offshore wind globally, an industry forecast to require over $300 billion of capex in the next five years alone.According to him,