London-listed contractor Lamprell is planning to shift its business towards renewables as it looks to diversify from its core oil and gas market after its profits plunged in the past year.
UAE-based Lamprell said in its latest financial statements that it plans to target more renewable energy work, as the oil and gas market faces “challenges”.
As a result, the company has already started diversifying its offering after securing a $225m deal from ScottishPower Renewables to fabricate turbine jackets for the 714MW East Anglia 1 wind farm off the UK east coast.
“The
