Seajacks builds new offshore vessel

Seajacks International has finished building a specialised vessel to install turbines at offshore wind farms.

The Seajacks Hydra is the fourth specialised vessel the UK-based offshore wind installer has completed since it was acquired in early 2012 by Japanese trading firm Marubeni and Innovation Network Corporation of Japan (INCJ), a government-backed private equity group.

It features a 400-tonne crane and can operate in up to 48 metres of water, Tokyo-based Marubeni said in an online statement, without revealing details of the other three vessels.

Mizuho Bank worked with five other institutions -- including the Development Bank of Japan (DBJ), ING Bank, Sumitomo Mitsui Banking Corp. and Swedbank -- to finance construction of the Seajacks Hydra.

Marubeni, the leader of the Fukushima Forward offshore floating wind demonstration project in Japan, currently claims about 10.5GW of power-generation assets throughout the world.

Last December, it agreed to sell half of its 49.9% stake in the 172MW Gunfleet Sands wind farm off eastern England to the DBJ.

In January, it bought a 90% stake in a 102.5MW wind farm in California from the US unit of French utility EDF.

And in April, Marubeni bought an additional 5% share of Seajacks International from INCJ, bringing its stake to about 55%. The two sides jointly purchased Seajacks from investment firm Riverstone Holdings.